Australia's industries must embrace digitalisation and AI

Australia's industrial sector is undergoing significant changes. New technologies, economic challenges, and regulatory reforms are reshaping how businesses operate. Many companies are investing in automation and artificial intelligence (AI) to stay competitive and ensure their growth. Digitalisation is improving operational efficiency and fostering collaboration among teams. Companies are using advanced analytics to gain valuable insights and enhance their performance. This shift also includes a cultural change, encouraging creativity and problem-solving among workers. Industry leaders like AGL Energy and Rio Tinto are leading the way in this digital transformation. They are building connected information systems that help them optimize operations and reduce costs. For instance, AGL reported saving $10 million annually by using predictive AI technologies. Collaboration in the cloud is key for these firms. It allows them to share important data with partners and suppliers, streamlining their processes. Rio Tinto's approach has improved efficiency, reduced downtime, and promoted responsible mining practices. Borg Manufacturing is another example of success in using digital solutions. They implemented a system that boosted factory efficiency by 400%, allowing them to produce more while decreasing waste significantly. Experts are emphasizing the importance of sharing insights beyond company boundaries. This 'radical collaboration' is seen as essential for improving sustainability and responding quickly to market changes. As regulations and sustainability pressures increase, businesses that adopt these digital ecosystems will likely lead in the future. Technology is no longer just about improving efficiency; it's now vital for survival in a changing landscape.