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    Innovation

    This Month

    Consumer data right is meant to make switching accounts and finding cheaper products easier.

    Familiar with the consumer data right? Here’s why you should be

    The philosophical basis for the right is that data generated by consumers of commercial services is their property and not that of the company.

    • James Eyers
    Consumer data right is meant to make switching accounts and finding cheaper products easier.

    Banks say consumer data right ‘action initiation’ rescue will cost $3b

    Ahead of a parliamentary vote next week to extend the consumer data right to boost switching, the ABA is pointing to costs and risks as reason for delay.

    • James Eyers

    July

    Australia needs a large language model that reflects Australian values if we want to retain our economic and cultural sovereignty.

    Why Australia needs its own AI large language model

    If we are to retain our economic and cultural sovereignty, Australia needs to develop AI that reflects Australian values.

    • Anton van den Hengel
    Companies are starting to measure gains from generative AI, but research shows over half of Australian workers are using the technology without rules or guidance.

    Workers are using AI in the office - but where are the rules?

    Companies are starting to measure gains from generative AI. But research shows over half of Australian workers are using the technology without rules or guidance.

    • Paul Smith
    Professor Jeremy O’Brien has now added $US500m of Illinois incentives to the $940m investment by the Federal and Qld governments into PsiQuantum.

    PsiQuantum promises US a computer after $US500m investment

    Three months after inking almost $1 billion worth of deals with the federal and Qld governments, the tech start-up has signed up to build another quantum computer in Chicago.

    • Paul Smith
    Advertisement

    ‘We had to have faith’: Apple’s designers on creating the Vision Pro

    For these innovators, the Vision Pro isn’t just a step change in computers. It’s a step into the future.

    • John Davidson
    Assistant professor Anissa Widjaja: “Out of curiosity, I ran some experiments... that’s when we got really excited.”

    Scientists discover anti-ageing holy grail – that can also stop cancer

    Experiments on mice show treated animals live 25 per cent longer and also gain boosts to vision, hearing and muscle function. It may even prevent hair loss.

    • Sarah Knapton

    The Sydney-born solution to NYC’s paragon of inefficiency

    Architect Ben Berwick’s modular glazing system for saving energy costs is more than window dressing.

    • Matthew Drummond

    Woolies, Harris Farm, Tesla chair, pile in to back biosecurity start-up

    ExoFlare has plans to build a global biosecurity tech firm, modelled on international cybersecurity players, and has big-name backers watching as it helps tackle bird flu.

    • Paul Smith
    Dan Fitzgerald’s regenerative tech fund ReGen Ventures successfully raised $90 million in 2021/22.

    Aussie tech’s climate crisis as start-ups face capital crunch

    At least 100 Australian climate tech start-ups need to raise capital in the next nine months to avoid going bust, but say the bar for investment is sky-high.

    • Yolanda Redrup
    Revolut has added a BNPL feature to its so-called ‘financial super app’.

    Revolut’s ambition adds to major banks’ headache

    “If we do a good job, we can attract more customers from traditional banks,” says the global CFO of Revolut, which has more than 600,000 users in Australia.

    • James Eyers

    June

    Black.ai co-founder Keaton Okkonen says Zoox and Waymo are pointers to the AI talent pool in Australia.

    Look at Zoox and Waymo to see Australia’s AI potential

    The local ecosystem for investment in artificial intelligence is in its infancy, but could thrive if given the right funding.

    • Michael Bailey
    Employment Hero co-founder Ben Thompson put the big idea out there on Tuesday.

    1pc of your super for venture capital? Add it to the list

    Everyone wants a piece of the $3.9 trillion super system and now we can add venture capital. The problem is, it is not the government’s money to redirect.

    • Anthony Macdonald
    Orica CEO Sanjeev Gandhi and chairman Malcolm Broomhead at Orica House in East Melbourne.

    What do Nobel, Dulux and Australia’s first high-rise have in common?

    From making bricks for the 1956 Olympics to paint, explosives and mining technology company Orica’s long history mirrors the Australian economy.

    • Patrick Durkin
    Science and Industry Minister Ed Husic has signed the contracts to invest $US125m in quantum computing start-up PsiQuantum.

    Government’s $189.5m quantum computing VC investment revealed

    Previously secret details behind the mammoth investment in US-based quantum computing firm PsiQuantum have been uncovered, including the government’s equity investment.

    • Paul Smith
    Advertisement
    Robert Waugh and Drew Bradford left NAB to create Ubiquity, a new AUD stablecoin.

    NAB kills its stablecoin, bankers decamp to form Ubiquity

    The bank canned its digital Australian dollar, known as the AUDN, so Rob Waugh and Drew Bradford left to set up their own product, to be called Ubiquity.

    • James Eyers

    May

    Industry and Science Minister Ed Husic says Australia has been short of a coordinated plan for the development and use of robotic automation.

    ‘Inflection point in history’: Government unveils robotics plan

    Science and Industry Minister Ed Husic has a plan for Australia to use and export more AI-infused robots to boost national productivity and industry.

    • Paul Smith
    Science and Industry Minister Ed Husic said slide in national R&D investment was intolerable.

    ‘Business spends bugger all’: what landmark R&D review aims to fix

    Technology industry experts warn a new government review into the R&D system must not cut tax incentives, and must kick-start anaemic business investment. 

    • Paul Smith, Tess Bennett and Nick Bonyhady
    Rebates are expected to increase by $2.6 billion over five years.

    R&D tax incentive to blow out by $2.6b

    Tax breaks for companies and superannuation payments for veterans and public servants have overshot expectations, adding billions in costs to the budget.

    • Joanna Mather
    George Peppou of Vow

    R&D boost needed for Future Made in Australia plan to fly

    Australian firms that develop innovative technologies say they are disincentivised to build their products in Australia and are calling for R&D incentive changes.

    • Tess Bennett