Australian AI Expertise in Livestock Could be World-Leading
Livestock production, medtech and horticulture represent three industries in which homegrown AI innovation could help position Australia as a global AI leader, according to a new report
A study from Australia’s National AI Centre, nested within national science agency CSIRO, has named 31 potential application domains that can help Australia become a competitive AI player.
The top five of those domains are livestock production, medical technology, horticulture, optometry, and dermatology. These fields reflect areas of significant specialisation for Australia and likely areas of comparative advantage, according to the report.
Titled Australia’s artificial intelligence ecosystem – Catalysing an AI industry, the research suggests that Australian engineers, inventors and researchers are poised to seize the benefits of a $13 trillion AI opportunity.
In announcing the report’s release, National AI Centre Director Stela Solar said patenting, commercialising and applying its research to global challenges could boost the Australia's international AI competitiveness, attract investments, attract talent and stimulate new sectors and job creation.
“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 number of AI companies in Australia is growing, the report states. It identified that there are currently 544 AI companies, 204 of which opened in the past five years, up 7.7% over the prior five years.
Most of Australia's AI firms provide data services to develop and optimise AI capabilities, including data analysis and management.
Other service categories offered by local companies include consulting, skills and training, hardware and infrastructure, research and innovation, cloud services, governance and ethics, systems integration and business transformation.
According to the research, 88% of Australian AI companies are classified as software providers and 79% of companies work in data and analytics.
Most of the companies are clustered in New South Wales (44%) and Victoria (33%). A relatively young industry, Australia’s AI companies have a median age of six years.
The CSIRO’s full study on the AI ecosystem in Australia can be found at this link.
