A lack of rules governing artificial intelligence technology is holding Australian businesses back, a report has found, and could result in them squandering a $142 billion opportunity.

Networking firm Cisco and the Governance Institute of Australia issued the warning on Tuesday after conducting research across multiple firms, including banks, charities, education and retail groups.

More Australian organisations were adopting the technology in 2025, the study found, although the nation still lagged behind others in the Asia Pacific region.

The findings come after the federal government pledged to release a national AI plan before the end of the year, and following an update to Australia's Voluntary AI Safety Standard .

The report, called Turning Hesitation Into Action, analysed Cisco'

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