New research from WE Communications has unveiled a paradox in the Australian business landscape: while 86% of Australian business executives are optimistic about AI, less than half have strategies in place to maximise its potential.

The agency's eighth annual 'Brands in Motion' (BIM) global study, 'Bridging the AI Expectation Gap', surveyed over 2,900 business executives worldwide, including Australia.

"AI is everywhere, touching everything. Some businesses have evolved AI plans and programs, others are a work in progress: what this study shows is that AI cannot be ignored in terms of communicating with one’s workforce and broader stakeholders," said Managing Director of WE Australia, Dan Woods.

The study also highlights concerns about AI adoption, with 88% of Australian executives expressing worries primarily about cybersecurity risks, over-reliance on AI, and potential job displacement.

Despite these concerns, 54% of respondents identified increased efficiency and productivity as the primary benefit of AI, followed by improved decision-making (39%) and enhanced innovation and creativity (33%). However, only 39% believe their organisations effectively communicate AI’s benefits internally.

"It’s precisely because of the universal, inevitable impact of AI that businesses must proactively talk about their own AI journey within and outside their organisation in an open way; and link that to overall business transformation, even if their AI specific plans are in development. The study shows that it's essential to have a communications plan that addresses AI in practical, relatable terms," Woods said.

The study recommends four key strategies: Build an AI employee engagement strategy, Link AI initiatives to the company’s overall business journey, Utilise executive communications and thought leadership, and Update crisis and issues preparedness plans.

According to the research, 56% of Australian organisations have no current investment in AI training. The top three areas identified that would benefit most from greater adoption of AI in the workplace are customer service, marketing and communications, and operations.

"While this study indicates that business leaders are generally enthusiastic about the potential of AI, the challenge is not just in adopting the technology, but navigating staff and stakeholders through the inevitable change it brings. This calls for effective communication to fully realise AI’s transformative impact: successful AI integration hinges on bridging the gap between technological possibility and real-world impact, supporting a transition that addresses the diverse needs and concerns of all involved," Woods said.