Australian businesses are pouring money into artificial intelligence — but many still don't know whether it's actually paying off. New research from Elastic suggests one in three businesses exceeded their AI budget last financial year, while just 8% are tracking AI's contribution to revenue or cost savings.

Sean Aylmer speaks with Jeremy Pell, Country Manager ANZ at Elastic, about why AI spending is blowing out, how businesses can measure the return they're getting, and why the next phase could be about matching different AI models to different jobs.

To find out more, check out Elastic's information on tokenmaxxing.   

Elastic is a supporter of Fear & Greed.

Australian businesses are pouring money into artificial intelligence &mdash; but many still don't know whether it's actually paying off. New research from Elastic suggests one in three businesses exceeded their AI budget last financial year, while just 8% are tracking AI's contribution to revenue or cost savings. Sean Aylmer speaks with Jeremy Pell, Country Manager ANZ at Elastic, about why AI spending is blowing out, how businesses can measure the return they're getting, and why the next phase could be about matching different AI models to different jobs. To find out more, check out&nbsp;<a href="https://www.google.com/url?q=https://www.elastic.co/blog/ai-cost-research-tokenmaxxing&amp;sa=D&amp;source=calendar&amp;ust=1788698272992826&amp;usg=AOvVaw1Z_j3m37gE2OzqM11nOynP">Elastic's information on tokenmaxxing</a>.&nbsp;&nbsp;&nbsp; Elastic is a supporter of Fear &amp; Greed.

Business news you can use. A daily business news podcast with journalists Sean Aylmer and Michael Thompson. Find out more at https://fearandgreed.com.au

Business news you can use. A daily business news podcast with journalists <a href="https://www.linkedin.com/in/sean-aylmer-9922068/" data-saferedirecturl="https://www.google.com/url?q=https://www.linkedin.com/in/sean-aylmer-9922068/&amp;source=gmail&amp;ust=1689199223540000&amp;usg=AOvVaw0wu3ezGEfBZFYspJbTTaYL">Sean Aylmer</a>&nbsp;and&nbsp;<a href="https://www.linkedin.com/in/mcwthompson/" data-saferedirecturl="https://www.google.com/url?q=https://www.linkedin.com/in/mcwthompson/&amp;source=gmail&amp;ust=1689199223540000&amp;usg=AOvVaw08pZ8jZ88rHJgCfbHkTr5k">Michael Thompson</a>.&nbsp;Find out more at&nbsp;<a href="https://protect-au.mimecast.com/s/7AmQCOMxmAtl5q0qiE-KY7?domain=fearandgreed.com.au/" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/7AmQCOMxmAtl5q0qiE-KY7?domain%3Dfearandgreed.com.au/&amp;source=gmail&amp;ust=1689199223540000&amp;usg=AOvVaw1DLq_FuqjEt3HC-ZK1704H">https://fearandgreed.com.au</a>

Fear and Greed is Australia's most popular business podcast.

FEAR & GREED | Business News

Daily business news for people who make their own decisions, with business journalist Sean Aylmer and Michael Thompson. Find out more at https://fearandgreed.com.au

Daily business news for people who make their own decisions, with business journalist <a href="https://www.linkedin.com/in/sean-aylmer-9922068/">Sean Aylmer</a> and <a href="https://www.linkedin.com/in/mcwthompson/">Michael Thompson</a>. Find out more at <a href="https://protect-au.mimecast.com/s/7AmQCOMxmAtl5q0qiE-KY7?domain=fearandgreed.com.au/">https://fearandgreed.com.au</a>

Q+A: How to stop your AI budget blowing out

https://api.omny.fm/orgs/2fb3740d-3436-44af-8cc0-a91900716aa5/clips/3cddddd5-8499-4c53-b573-b4b800cfeff9/transcript