Artificial intelligence (AI) has captured the attention of business leaders seeking operational efficiencies and cost reductions. However, while executive teams recognize the potential of AI, IT departments often face significant hurdles in its implementation. In Australia, these challenges are particularly acute, ranging from a scarcity of specialized talent and fragmented operations to the escalating threat of cyberattacks. Consequently, many organizations struggle to initiate a smooth and effective AI deployment strategy.
Several factors hinder Australia’s adoption of AI. Limited access to skilled professionals, funding constraints, and the need to keep pace with AI’s rapid advancements pose significant challenges. Mid-market companies in highly regulated sectors like finance, energy, and utilities face additional complexities, including cybersecurity concerns and the imperative for responsible AI implementation. The prevalence of legacy systems, often incompatible with AI’s demands, further complicates matters.
John Hanna, of Neudesic Australia, observes, “From an AI perspective, these sectors encounter similar challenges to others, such as talent acquisition, data quality, integration with legacy systems, change management, and ethical and regulatory considerations. However, they also experience heightened cyber threats and fraud, driven by increasingly sophisticated threat actors leveraging AI. The repercussions of a security breach can be substantial, impacting both financial stability and customer trust.”
The sheer volume of data processed by mid-market companies in finance, energy, and utilities often overwhelms existing systems designed for identifying established patterns or relying on human analysis. Hanna emphasizes that AI adoption empowers companies to analyze information at scale and speed, enabling them to detect and neutralize threats before they inflict significant damage.
Neudesic addresses these challenges by offering expertise, cutting-edge technology, and strong partnerships with Microsoft, evidenced by their numerous Microsoft Partner of the Year awards. This global professional services firm brings decades of experience in data and AI, cloud migration and modernization, application development, and business strategy to the Australian market.
Neudesic’s approach is built on four pillars. First, their diverse team of internal experts, spanning various industries, skill sets, and Microsoft Azure and OpenAI solutions, enables them to address a wide range of business challenges. Second, their approach focuses not only on implementing Microsoft and OpenAI solutions but also on addressing current challenges, anticipating future opportunities, and charting the optimal course. Third, their focus on innovation ensures the development of tailored solutions that meet client needs while accelerating time to value. Finally, their 20 years of experience in the Microsoft stack provide clients with expert knowledge to tackle critical IT issues and unlock new possibilities.
Neudesic’s process begins with a thorough understanding of each client’s business requirements, followed by collaborative workshops and rapid prototyping. The team then develops a roadmap aligned with the client’s objectives and ensures continuous model refinement, data updates, and process improvements.
“We are also backed by IBM and are an award-winning Microsoft partner,” says Hanna. “This translates to customers gaining access to the expertise and experience of specialists across both tech stacks, dedicated to solving the most critical IT challenges faced by Australian businesses and capitalizing on new growth opportunities.”
A compelling example of Neudesic’s AI-driven solutions is the simplification of the Know Your Customer (KYC) process in the financial sector. Traditional KYC procedures can be lengthy, often taking days or even weeks. A Fenergo report revealed that 80% of surveyed customers would abandon a business due to an inefficient onboarding process. Streamlined and intelligent document processing solutions are essential for maintaining competitiveness.
Neudesic’s Document Intelligence Platform automates KYC by capturing customer data from various sources, cross-referencing it with databases, and validating the information in real time. It also streamlines compliance with customer identification programs. This allows financial organizations to handle high volumes of KYC checks without increasing staff, while automation reduces operational costs. Real-time verification accelerates processes like account openings and loan approvals, enabling banks to acquire and manage customer assets more quickly. Furthermore, the platform integrates seamlessly with existing systems like Fenergo for a more robust and efficient workflow.
By partnering with integrators like Neudesic, Australian businesses can deploy AI using a proven, logical methodology, unlocking the ability to invest and accelerate AI adoption based on business needs and available capital.
“Every business envisions great things with AI but can struggle to translate ambition into action,” concludes Hanna. “Success requires strategy, tailored solutions, and expert guidance. With a trusted partner, businesses can avoid common pitfalls and mistakes, reducing investment regret and building confidence in AI faster than would otherwise be possible.”
