INTHEBLACK May 2025 - Magazine - Page 10
FAS T F O C U S
Financial goals miss the target
Research from the Australian Securities & Investment Commission’s Moneysmart shows that when it comes
to achieving their financial goals in 2025, four in five Australians anticipate challenges. The most common obstacle
is financial constraints (56 per cent), followed by lack of motivation (30 per cent), lack of knowledge (24 per cent)
and lack of time (24 per cent).
The most common financial goals for 2025 are:
Increasing savings
67%
Spending less on
non-essential items
55%
Creating or
updating a budget
43%
Investing more
Paying off debts
Read the research
Five strategies for embracing AI
KPMG’s Driving AI adoption report notes that getting
a workforce to adopt this smart technology to its full
potential is vital to ensuring that it delivers the
promised productivity benefits. However, the report
states that the biggest obstacles to generative AI
adoption is the risk that teams will choose not to use
AI due to scepticism, mistrust or fear — particularly
the fear of losing their jobs.
The report includes five key elements that improve
how a workforce approaches AI adoption:
1. Be clear on the “why”: When leaders and
employees understand the purpose of AI, they can
better envision their future roles.
2. Develop widespread training: Training encourages
discussions that foster social connection and
decision-making for improved experimentation.
3. Encourage people to play: Provide safe
opportunities to experiment with AI and foster
an environment where people can share their
knowledge and tips.
4. Make new ways of working tangible:
Realising AI’s full value means helping employees
understand its practical benefits, so demonstrate how
AI augments roles.
5. Reward people for engaging with AI: Implement
formal and informal ways to encourage AI adoption,
ensuring recognition and incentives match the
organisation’s goals.
Read the report
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