February 21, 2024

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Report: Unlocking Australia’s AI Potential

In a thorough report by the National AI Centre, Australia is poised to solidify its stance as a global frontrunner in Artificial Intelligence (AI) by strategically transforming cutting-edge AI research into lucrative commercial prospects.

Image credits: CSIRO

Termed “Australia’s Artificial Intelligence Ecosystem – Catalysing an AI Industry”, the report delves into a comprehensive analysis, empowering businesses, investors, government bodies, and research institutions with the latest insights to propel Australia’s AI landscape forward.

Published during the inaugural AI Month in Australia, the report, commissioned by the National AI Centre, housed within CSIRO (Australia’s national science agency), highlights a significant revelation: while Australia contributes 1.6% of global AI research, only 0.2% of global AI patents originate from within the country. Securing patents for indigenous research becomes pivotal in harnessing Australia’s innovations, amplifying its global competitiveness on the AI frontier.

Stela Solar, Director of the National AI Centre, emphasises the imperative to capitalise on the immense $13 trillion AI opportunity. Solar advocates for patenting, commercialisation, and application of Australia’s groundbreaking research towards solving domestic and global challenges.

She believes, “This strategic move could elevate Australia’s international standing, entice investments, foster talent development, and cultivate nascent sectors and employment avenues.”

Dr Stefan Hajkowicz, Chief Research Consultant at CSIRO’s Data61 and lead author of the report, identifies a critical strategy: pinpointing and fortifying Australia’s AI specialities to bolster its global market edge.

Hajkowicz asserts, “Australia’s AI ecosystem is rapidly evolving, presenting opportunities for specialisation and diversification. Our focus should revolve around applying innovative AI in domains where Australia already leads on a global scale.”

The report delineates 31 potential application domains, pinpointing areas for Australia to become a prominent AI innovator and exporter. Notably, these areas span diverse sectors such as livestock production, medical technology, horticulture, optometry, and dermatology.

Dr Alexandra Bratanova, Senior Research Scientist at CSIRO’s Data61 and report co-author, emphasises the significance of nurturing AI innovation hubs tailored to specific industries. “Domestically nurtured AI solutions often align more closely with our values of safe and responsible AI products. These solutions can be customised to domestic needs and uphold higher quality standards compared to those offered by large international AI providers,” says Dr. Bratanova.

The report uncovers compelling findings:

  • Australia hosts 544 AI companies, placing it on par with global AI leaders like Canada.
  • Over the past decade, 396 AI companies have emerged, with 204 established in the last five years, representing a 7.7% year-on-year growth.
  • Predominantly, these companies focus on data services, developing and optimising AI capabilities, particularly in data analysis and management.
  • The AI companies exhibit geographic clustering, with eight prominent hotspots across cities like Sydney, Melbourne, Brisbane, Adelaide, and Perth, housing 54% (296) of these enterprises.

Moreover, the report includes insights gleaned from consultations with 28 stakeholders within Australia’s AI ecosystem. Representatives from companies pioneering AI technologies, government agencies, and research institutions have contributed valuable perspectives.

Australia stands at a pivotal juncture, armed with cutting-edge AI research and burgeoning industry clusters. By strategically harnessing these strengths, the nation can propel itself to the forefront of global AI innovation, fostering economic growth, job creation, and technological advancement.

The report arrives amid escalating apprehensions regarding AI’s potential misuse. The widespread impact of AI raises pressing copyright concerns that encompass various facets, including the data utilised for training AI models, the transparency surrounding AI’s inputs and outputs, the emergence of imitative works generated by AI, and the intricate discussions regarding copyright safeguarding for creations produced by AI.

To address challenges posed by AI on copyright issues, the Australian government launched a dedicated copyright and AI reference group. This initiative aims to proactively anticipate and navigate the intricate web of copyright concerns brought about by the proliferation of AI technology.

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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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