Sydney, Australia – September 4, 2024 – Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world's most advanced data storage technology and services, in partnership with independent research firm Vanson Bourne, today unveiled the results of its latest survey, shedding light on the priorities and challenges faced by CIOs and senior IT leaders shaping Australia’s business innovation.
The survey “The Innovation Race: Reducing Risk and Navigating the AI Frontier for Future Success”, part of a global study involving 1,500 C-level and decision-maker respondents, highlights the strategic focus of Australian organisations on risk management and the growing importance of AI adoption.
Industry Significance:
Against a background of mounting economic pressures, Australian CIOs and IT leaders are prioritizing risk management while driving innovation, particularly in navigating the AI revolution's potential for business transformation. However, challenges in AI integration, coupled with infrastructure readiness issues and the need to mitigate risks present significant challenges. The situation is further strained by concerns over global power shortages, despite Australia’s strong renewable energy efforts, and the complexities of poorly integrated technology systems, escalating costs in cloud and data centers, and the constant threat of cyberattacks, all of which highlight the critical need for strategic investment in resilient, fit-for-purpose technology.
Survey Highlights:
AI Set to Transform Australian Business:
- 96% of Australian IT leaders recognize AI as a key opportunity for business transformation.
- Nearly all organisations are planning, preparing, or adopting AI, with many pursuing AI-first strategies.
- AI is primarily focused on improving efficiencies, automating tasks, and enabling data-driven decision-making.
Infrastructure Challenges Threaten AI Potential in Australia:
- 84% of business leaders fear AI-generated data will outgrow current data centers.
- 82% are concerned that existing infrastructure may not keep pace with AI advancements.
- 58% of IT departmental time and over half of IT budgets will be allocated to AI efforts in the next year.
Balancing Innovation with Economic Pressures:
- 59% of IT teams are focused on maintaining operations, limiting innovation efforts.
- Rising energy costs and technology debt are significant challenges to innovation.
- Cloud service costs and economic pressures make resource allocation for innovation difficult.
Cybersecurity: A Persistent Threat to Innovation:
- 91% of CIOs and IT leaders prioritize reducing their organisation’s risk profile above all else, the highest rate among surveyed countries.
- 41% of IT leaders identify cyber threats as a major risk.
- 91% believe that budgets spent on managing cyberthreats would be more effectively used for driving innovation.
Executive Insight:
