New research identifies Australia’s most promising opportunities in the new global AI economy

In this article:

• The document discusses a new report that identifies Australia’s most promising opportunities in the new global AI economy.
• The report, a collaboration between Microsoft and Mandala Partners, highlights three key areas that represent 90% of the projected A$18.8 billion in annual revenue that Australia could generate across the generative AI tech stack by 2035: applications, AI datacentres, and data.
• The report recommends targeted actions industry and government can take to capitalize on these opportunities and unlock AI’s full benefits, including providing support for local startups, securing renewable energy, and developing Australia’s AI workforce.
• It also notes the importance of mitigating the risks and challenges associated with AI, such as bias, unpredictability, and security.
• The document emphasizes that Australia has a solid foundation for AI, with a favorable business environment, strong sustainability credentials, and high level of AI readiness.