A new report by the National AI Centre found that Australia can cement its position as a global leader in artificial intelligence (AI) by successfully training AI research into commercial possibilities to support existing national sector strengths.
Australia’s artificial intelligence ecosystem – Catalysing an AI industry, published during Australia’s first-ever AI Month, provides businesses, investors, government, and academic institutions with the most up-to-date study of Australia’s AI ecosystem and how to advance it.
The report, commissioned by CSIRO, indicates that Australia contributes 1.6% of global AI research but only 0.2% of global AI patents where the inventor resides in Australia.
Securing research patents guarantees that Australia may benefit from its breakthroughs, increasing its global competitiveness.
According to National AI Centre Director Stela Solar, to capitalise on the $13 trillion AI opportunity, Australia may patent, commercialise, and apply its world-leading research to domestic and global concerns.
“This could boost Australia’s international competitiveness, attract investments, foster talent growth, and fuel the development of new sectors and jobs,” Solar said.
“AI is the lifeblood of modern innovation, and Australia has the cutting-edge research capability to create globally competitive AI solutions. We have the leading players on the court and need a gameplay that translates this capability into goals,” Solar added.
CSIRO Data61 Chief Research Consultant Dr Stefan Hajkowicz suggests Australia can enhance its global market advantage by identifying and strengthening its AI specialisation areas.
“Australia’s AI ecosystem is experiencing rapid growth, specialisation and diversification, and we need to keep applying innovative AI to areas Australia already leads on a global scale,” Dr Hajkowicz said.
“This report identifies 31 potential application domains that can help Australia become a globally competitive AI maker and exporter, with the top five being livestock production, medical technology, horticulture, optometry, and dermatology,” he explained.
AI innovation hotspots will assist in accelerating the emergence, growth, and development of these industry-specific AI prospects, according to Dr Alexandra Bratanova, Senior Research Scientist at CSIRO’s Data61 and report author.
“Homegrown AI solutions can be higher in quality, tailored to domestic needs and more aligned to our values of safe and responsible AI products than those from big international AI providers,” said Dr Bratanova.
“Each AI cluster has between 6 and 146 AI companies with an average distance between two being only 80 meters. This proximity is likely to facilitate collaboration, knowledge sharing and skills development.”
In addition, the report includes findings from consultations with 28 stakeholders from Australia’s AI ecosystem, including representatives from firms developing and deploying AI technologies and supporting services, government agencies, and academic institutions.
