February 28, 2024

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Australia Unveils New Digital Economy Strategy

The federal government has announced plans to invest nearly $1.2 billion to augment Australia’s digital capabilities through the Digital Economy Strategy. The funds, allocated as part of this year’s Budget, will seek to better prepare Australia to respond to the challenges and opportunities posed by the rapid digital transformation occurring in every sector.

The nation’s Prime Minister said the strategy will target investment in emerging technologies, building digital skills, encouraging business investment and enhancing digital government service delivery. He noted that every business in Australia is now a digital business, adding that this transformation is not merely a national one that needs to happen — it’s a global one that is happening.

The investment includes $100 million to support improving Australians’ digital skills, including a new pilot program for work-based digital cadetships. In addition, $124.1 million will be allocated to initiatives aimed at building Australia’s AI capabilities. This will include the establishment of a National Artificial Intelligence Centre led by the CSIRO’s data science arm Data 61.

Projects aimed at enhancing government services will include a $200.1 million overhaul of the myGov platform and $301.8 million to enhance the My Health Record digital health system as well as an expansion of the digital identity system.

Other initiatives will include an expansion of the Digital Solutions – Australian Small Business Advisory Service, a Digital Games Tax Offset aimed at helping Australia improve its share of the global game development market and a $50 million investment aimed at enhancing cybersecurity in government, data centres and future telecommunications networks. Australian Information Industry Association CEO Ron Gauci said the investments will be warmly welcomed by the technology sector, but added that some of the commitments do not go far enough.

The Prime Minister said, “We’ve been advocating for significant investment in health, skills, cybersecurity, digital payments and AI. Today’s investment of $124.1 million for AI shows the federal government’s continued commitment to ensuring Australia becomes a leading digital economy.”

“However, in April we demonstrated that to fully fund a National AI Strategy, $250 million was needed. While investment in R&D is important, more needs to be done to ensure that there is a significant investment in the commercialisation of AI here in Australia to deliver jobs and economic growth. Without it, we will continue to fall behind the rest of the world.”

The CEO of an NSW tech firm likewise urged the government to carefully plan the investments to ensure the funds are being spent efficiently. He noted that the government’s upcoming $1.2 billion digital economy fund and accelerate Australia digitally is a step in the right direction, reflecting the importance of digital technologies and tech-driven businesses in keeping the economy going and putting Australia squarely on the global innovation map.

However, the nation needs to see adequate and holistic approaches to every aspect of Australia’s digital economy in order for any of the planned budget to be spent effectively, he said. This is particularly true for the area of cybersecurity — the government will be devoting $50 million to enhancing cybersecurity, and to ensure Australians and Australian businesses truly benefit from every dollar spent, this must lead to nation-wide standards for cybersecurity adoption, appropriate upskilling and training programs, he said.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

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SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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