Artificial intelligence companies and research are growing rapidly in Australia, putting it among global leaders, according to new research by the national science agency that identifies opportunities to double down.
A report by the CSIRO’s Data61 for the National AI Centre analysed the local market, finding there are now 544 companies headquartered in Australia that are mainly making and selling AI products and services.
Most AI companies in Australia typically offer data services to optimise AI capabilities, including data analysis and management, and are clustered in capital cities, on average within 80 meters of its nearest neighbouring AI company.
The research also found an outsized impact on AI research, with Australia’s share of global publishing on AI topics being 1.6 per cent, compared to the share of all topics at 1.2 per cent. Certain types of neural network, algorithm and machine learning research is being produced in Australia at five to seven times the global rate.
The University of Technology Sydney is the clear leader in terms of the share of AI research published by Australian universities, with almost 19 per cent.
But Australia produces only 0.2 per cent of global AI patents, suggesting much of the R&D isn’t being well exploited.
National AI Centre Director Stela Solar said better translation and commercialisation would help Australia realise more of the benefits of AI, tipped by tech companies to be worth more than $100 billion to the Australian economy.
“This could boost Australia’s international competitiveness, attract investments, foster talent growth, and fuel the development of new sectors and jobs,” Ms 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.”
The National AI Centre report identifies 31 potential application domains that can help Australia become a globally competitive AI maker and exporter. The top five are livestock production, medical technology, horticulture, optometry, and dermatology.
The 31 application domains are based on Australia’s research publication rate compared to the global average. They reflect significant specialisation for Australia and likely areas of comparative advantage, according to the report.
“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,” Data61 chief research consultant and lead author Dr Stefan Hajkowicz said.
Other AI experts have warned Australia is at risk of missing out on the opportunities presented by its leading AI research, including influencing the technology’s development, in part because of relatively low investment by the federal government.
According to UNSW professor Toby Walsh, the UK government is spending around twenty times on AI what Australia is, despite the UK economy and population being just three times bigger.
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