News & Announcements  •  2 min read

Metigy Predicts: The Australian budget and what it means for AI

12th May 2021

2 mins.

Today we heard that the Australian Federal Government is investing $1.2 billion in the digital economy with AI getting a slice of the budget pie.

Here at Metigy, we’re supportive of the investment in Australia’s digital future and specifically in AI-powered tech, where great innovation is truly happening on our doorstep.

A national digital transformation in Australia has been long overdue and while we welcome the investment, we’re cautiously optimistic about this commitment to the digital economy and the AI sector.

AI is already having an impact on the choices and behaviours of Australians every day through technology they already use, and this will only continue to grow.

We can either invest and develop the skills we need to be influential in the development of this technology we come to rely on, or we can leave to others to take up that influence.

It is positive to see the government comprehending this once-in-a-lifetime opportunity to continue our rich history as innovators, rather than followers.

However, we’re cautiously optimistic because just eight months ago Prime Minister Scott Morrison told the Australian e-Commerce Virtual Summit that tech adoption, not creation was his digital focus, and keeping the foot on the digital accelerator was not about creating a new Silicon Valley here in Australia.

Fast-forward to this federal budget and the government is boldly committing to announcements and adding to the confused messages we hear that don’t do much to reassure us in the tech sector. Is this another case of believing the investment when we see it?

For too long Australian technology has been lacking support and this promise today is one we absolutely need the government to keep. Building and designing homegrown technology like AI-powered solutions, is critical – we are creators, developers, entrepreneurs. More than anything, the last year has proven this to be the case.

On top of this, we believe AI-powered tools and systems for small businesses are the key to a sustainable post-pandemic recovery.

Artificial intelligence that is affordable and accessible to all sectors on a level playing field helps businesses be more efficient and maximise their squeezed resources.

Digitisation has a role to play in our everyday work and we must see this technology trickle down in a serious way to the community of SMEs that account for 98% of businesses in Australia.

We’ll be watching this space very closely and I’ll be sure to share more of my thoughts with you all.

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