Company Interview / What Oracle views as AI's next frontier

Key points:

Strong uplift in Australian AI spending across all major sectors Healthcare use cases reducing clerical load and improving resource use AI in construction, banking and retail targeting safety, compliance and supply chains de Montfort urges businesses to embed AI in core processes and not delay adoption

Artificial intelligence spending is accelerating across Australia, according to Simon de Montfort from Oracle (NYSE:ORCL), who cites analysis suggesting 65% of local businesses plan to lift AI investment next year as global expenditure heads towards $3.3 trillion. De Montfort states that Australian IT spending is growing at just under 9% annually, with a significant share directed to AI tools, placing Australia in the top quartile globally for adoption.

De Montfort points to healthcare as a standout sector, highlighting work with Victor Chang Cardiac Research and a clinical AI tool that is already saving substantial doctor time by automating clerical tasks. He adds that products being deployed in the United States, such as AI-driven note-taking assistants for doctors, are expected to arrive in Australia, helping clinicians focus more on patient care rather than administration.

Construction, banking and retail are also seen as major AI beneficiaries. De Montfort notes AI-driven computer vision is improving safety and productivity on construction sites, while Australian banks use AI to streamline anti-money laundering checks. Retailers are adopting AI to optimise shelf stocking, inventory and supply chains. De Montfort contends AI is primarily about efficiency and productivity, not large-scale job losses, and argues Australian companies should move quickly, integrate AI into core processes, and build on existing cloud and digitisation investments.