The CPA Australia Business Technology Report 2024 has revealed significant trends in technology adoption across the Asia-Pacific region, emphasising the growing role of artificial intelligence (AI), cybersecurity, and digital strategies in business performance. 

In particular, the report showed a substantial rise in AI integration, with 69 per cent of businesses now using AI, up from 55 per cent in 2023. 

While AI enhances efficiency and decision-making, its adoption is uneven, particularly among smaller companies facing challenges such as high costs and a lack of expertise.

Cybersecurity remains a top priority, with nearly 90 per cent of respondents rating their company’s cybersecurity as average or above. 

This focus has led to fewer cyber incidents, demonstrating the effectiveness of current security measures.

Additionally, businesses are leveraging technology to meet environmental, social, and governance (ESG) goals, with 70 per cent of respondents indicating that their tech investments support sustainability efforts.

The report highlights the positive impact of technology on business performance, particularly in operational efficiency, customer experience, and profitability. 

Companies adopting a wide range of technologies, such as data analytics and robotic process automation (RPA), are seeing significant gains. 

However, challenges persist, including the rising costs of technology and a shortage of skilled workers. To address this, many businesses are focusing on upskilling their existing workforce.

Companies that strategically invest in digital solutions and cybersecurity are better positioned to navigate the complexities of the modern business landscape, ensuring their long-term competitiveness and growth.