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The Tech Council of Australia (TCA) expressed its enthusiasm for the establishment of the bipartisan Parliamentary Friendship Group on Tech and Innovation. This group was formally introduced during an event co-hosted by TCA and the Business Council of Australia, where they discussed the potential and challenges associated with the development and adoption of AI in Australia.
The CEO of TCA stressed the significance of receiving wide-ranging support from Parliament to foster the creation of more tech-related jobs and harness the transformative power of productivity-enhancing technologies like AI. She stated that technology assumes a pivotal role in fostering the creation of fresh employment opportunities and driving economic growth in Australia, concurrently influencing a spectrum of policy matters demanding the Parliament’s attention. The imperative for collaborative efforts between Parliament and the technology industry to address these critical national concerns is underscored, with satisfaction drawn from the substantial support for technology and innovation exhibited by representatives nationwide.
The commendation was extended to the co-chairs for their leadership in uniting this group. Within Parliament, a noticeable appetite exists among members to augment their understanding of the potential inherent in technologies like AI and to explore avenues for responsible risk management while harnessing their benefits.
Achieving the vision of positioning Australia as a global leader in cutting-edge technologies and realising the goal of generating 1.2 million tech-related jobs by 2030 necessitates a unified national approach and close collaboration with the technology industry.
The group will facilitate engagement between parliamentarians and the tech industry on economic and policy matters. It will serve as a platform to showcase the best Australian tech companies and innovations to Parliamentarians and offer a forum for industry stakeholders and Parliament members to discuss pressing issues.
The widespread support from members across the country underscores the advantages of investing in technology and the potential for job creation for all Australians.
Currently, there are 935,000 individuals in Australia occupying positions in technology-related fields, covering all states and territories, from urban centres to rural and remote regions. Annually, the tech industry makes a substantial contribution of AU$167 billion to the national economy, with this figure showing a consistent upward trajectory.
Participating member companies of TCA and BCA in the AI briefing included prominent tech firms. The briefing covered topics such as the functioning of AI, the economic implications of AI for Australia, and best practices in regulating and governing AI technology.
The Friendship Group on Tech and Innovation serves as a bridge between the government and the technology industry, fostering collaboration and dialogue to address key issues, promote technological advancements, and support economic growth through technology-related initiatives.
OpenGov Asia reported earlier that New South Wales (NSW) is partnering with key stakeholders, including universities and businesses, to develop an Innovation Blueprint aimed at revitalising the state’s innovation sector. The backdrop for this initiative is the stagnation in university-industry collaboration and the lack of progress in commercialising research outcomes, as highlighted by the NSW Innovation and Productivity Council. Simultaneously, R&D intensity in the region has been declining, emphasising the need for strategic interventions.
However, the government is mindful of fiscal constraints while working to restore the state’s finances and essential services. As a result, all expenditures must align with the best interests of NSW residents. The Innovation Blueprint is designed to be a collaborative effort, drawing insights from sector leaders and experts to position NSW as a global leader in attracting investments, fostering innovation, and attracting talent.
To facilitate this process, the Minister for Innovation, Science, and Technology will lead roundtable discussions on various topics, including venture capital, government support, startup growth, innovation adoption by industries, and talent attraction. These discussions will be instrumental in shaping the final blueprint.
