Key Highlights:
- Google has vowed to invest $1 billion in Australian technology research and development over the next five years.
- The second focus will be on promoting Australian-made technology and talent, which will be accomplished through the establishment of the lab.
- The country’s attempt to counter China’s rising dominance in key strategic industries will center on nine crucial technologies from a list of 63.
Google to invest $1B in Australia
Google has vowed to invest $1 billion in Australian technology research and development over the next five years. The agreement calls for the establishment of a new Google Research Australia facility in Sydney to conduct AI and quantum computing research.
Google’s Digital Future Initiative will focus on three major areas, according to Mel Silva, Managing Director for Google Australia and New Zealand. The first section is concerned with laying the groundwork for the digital economy.
Key focus
Google will invest in the infrastructure required to assist Australians in making the most of technology, allowing Australian firms to have a safe and strong platform for business transformation, become more productive, and adapt rapidly to ever-changing consumer requirements.
The second focus will be on promoting Australian-made technology and talent, which will be accomplished through the establishment of the lab. Google will collaborate with the research community throughout the nation and other Google Research centers to develop a team of local academics and engineers to investigate how AI and machine learning might help address major challenges in Australia and around the world.
The third focus will be on collaborating to address large difficulties. Mel stated that Google is collaborating with Australian groups to bring innovative technology solutions to today’s pressing issues, ranging from bushfires to mental health and cancer diagnostics. Partnerships are at the core of the Digital Future Initiative because it recognizes that the finest and most innovative solutions frequently originate from people who are on the ground and closest to the concerns and needs of their communities.
Generating Employment
Australian Prime Minister Scott Morrison, who attended the event and officially opened Google’s new Australian headquarters in Sydney, stated that the initiative is expected to create 6000 jobs and support an additional 28000 people and that it is also a vote of confidence in the country’s digital economy strategy.
In recent years, Australia has lagged behind other countries in AI research and development, ostensibly due to a lack of infrastructure and research facilities. A few days following Google’s announcement, Morrison launched a new plan to preserve and develop crucial national-interest technologies such as AI and quantum computing.
The country’s attempt to counter China’s rising dominance in key strategic industries will center on nine crucial technologies from a list of 63.
Surprisingly, Google’s move comes as US internet behemoths continue to face scrutiny from Australian legislators. In fact, Google Australia threatened to shut down the country’s search engine after being asked to compensate local news publishers for information shared on their platforms. Australia became the first jurisdiction in the world to require major internet firms like Google and Meta to pay news publishers for news material on their platforms.
While a settlement was finally made, the entire experience acted as a wake-up call for huge technology corporations not only in Australia but across the world.
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