Light-years ahead: TechnologyOne unveils game changing AI system
Brisbane's TechnologyOne has stunned the tech world with an artificial intelligence platform that can predict, learn and simplify entire business operations.
Global business software company TechnologyOne has unveiled a whole-of-enterprise AI system which it says is light years ahead of the competition.
The Brisbane-based company expects to hit the $1bn annual revenue target within five years and its new Agentic AI system PLUS will propel the company to the target.
TechnologyOne chief executive Ed Chung, who unveiled the new AI system at the company’s showcase in Melbourne on Thursday, said it was a “game-changer”.
“We’re light years ahead of the competition,” he said.
“Time will tell now how they’ll respond but there’s nothing in the ERP (Enterprise Resource Planning) market at the moment that looks like having the capabilities of what we have just announced.”
Developed by the company’s Brisbane R&D team, PLUS is a platform that can predict, learn, uncover and simplify life for businesses. It combines an all-new natural language interface with powerful AI capability operating across every part of the TechnologyOne solution within an organisation.
Mr Chung said the AI system will be the start of TechnologyOne’s fifth generation.
“We have rewritten our entire code base four times over the past 38 years and this is the start of the fifth generation. Maybe we’ll call it the AI generation. The customers will who already have our products will get it for free,” he said.
“The benefits and efficiencies PLUS will bring to our universities, councils, government agencies and other critical public service sector organisations are literally incalculable.
“From the most mundane and repetitive tasks to critical management functions, PLUS will revolutionise all aspects of running an organisation, delivering not only cost savings but supporting better and more successful organisations from the day it is turned on.”
The platform interrogates the organisation’s own data to answer questions, perform tasks, find and analyse information and identify and predict trends.
It personalises data and task predictions based on user habits, role, and organisational goals, enabling every aspect of work to be managed from one screen, one interface, one solution with visibility and information of the full enterprise.
Mr Chung said instead of issuing a request that requires navigation and specific data input, with PLUS, it will be done in one sentence.
“At the other end of the spectrum, detailed and complex analytical information can be created and presented in a detailed but clear graphical form on the fly, delivered in moments with a single conversation with PLUS,” he said.
“Best of all, it is so simple to use it requires no training or installation and will deliver a return on investment from moment one.”
PLUS is built on TechnologyOne’s Defence in Depth security architecture and AI best practice principles, such as “the human in the loop”.
It is underpinned by the ISO 42001:2023 certification, the world’s first global standard for Artificial Intelligent Management Systems.
In May Mr Chung said TechnologyOne was aiming to break the $1bn annual recurring revenue barrier within five years.
At the time the company delivered a record revenue and profit rule for the 16th consecutive year. In its half year results ended March 31 TechnologyOne said it expected profit to be 13 per cent to 17 per cent higher in the 2025 financial year compared to FY24.
Its profit before tax jumped 33 per cent to $81.9m for the six months to March 31 from a year earlier, with its dividend up 30 per cent to 6.6c. Revenue rose 19 per cent to $291.3m.
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Originally published as Light-years ahead: TechnologyOne unveils game changing AI system
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