OzTech: More investment in AI; WA improves data links; Tech Central’s $8 million research fund; A/NZ software spending up; small businesses are investing in technology again

Australian AI spending will hit $3.6 billion in 2025

Australia’s spending on AI systems will hit $3.6 billion by 2025, according to research firm IDC. The top industries for AI spending will be banking, federal and central government, professional services, and retail. The use of AI by these industries should be on:

  • Bank: to prevent fraud, identify threats and improve recommendation systems.
  • Federal and central government: to detect, monitor and respond to threats to personnel and infrastructure.
  • Professional Services: To provide better digital support by self-regulating and automating mundane software maintenance activities.
  • Retail: To improve customer service, provide expert shopping advisors and product recommendations, and optimize digital supply chain operations.

IDC predicts that 52.2% of AI spending will be on software for AI applications and platforms, AI system infrastructure software, and application development and deployment. Services will follow, with most investment going to IT and business services.

Western Australia improves data link

The Government of Western Australia has announced an investment of $8 million over four years for data matching reforms and renewed capacity across the public sector. The funding is part of the state government’s Digital Capability Fund and the project is a response to recommendations made by WA Chief Scientist Peter Klinken, who led a review of data matching with the sectors of the research, non-profit and public, and a response to the state’s digital strategy.

Ten roles will be created in the Digital Government Office to support the construction, operation, governance and use of a central data asset, in addition to new equipment and services to ensure data security.

The reform aims to improve data links and help health and medical researchers improve the health and well-being of all Western Australians. It should also enable the WA government to improve services and ensure that policies and decisions are based on relevant data.

NSW’s Tech Central opens $8m research and infrastructure fund

The New South Wales government has launched an $8 million research and innovation infrastructure fund as part of its Tech Central investment program for universities, research organisations, industry , the New South Wales-based National Collaborative Research Infrastructure Strategy consortia and facilities to provide specialist equipment, skilled experts and collaborative programs that build on existing strengths in industry and research across the industry.

Project funding is expected to range between $500,000 and $5 million per project, with an emphasis on supporting proposals that have a specialized physical or digital spend.

“It’s about providing innovation, R&D and industry talent that will support the translation of world-class research into business outcomes, new technologies, services and competitive cutting-edge industries at the global level. scale,” said Alister Henskens, Minister for Science and Innovation. , and Technology and Skills and Training Minister.

The state government is currently accepting applications.

A/NZ spending on software more than doubled in 2021

Customer relationship management, digital workflow and collaboration, enterprise resource management and security products were the top drivers of software spending in Australia and New Zealand in 2021, according to the firm of IDC studies.

In 2021, the software market grew 17.5%, according to IDC, a significant jump from 2020’s 8.5% growth.

Out of survival mode, small businesses are resuming tech investments

More than half (57%) of small and medium-sized businesses in Australia and New Zealand are no longer in survival mode, according to a survey of 1,011 organizations by research firm IDC. These companies are now focused on growing and transforming their organizations.

For 2022, 67% of Australian small businesses report higher IT spending. IDC predicts that spending on cloud, cybersecurity, and laptops and PCs will grow the most.

Trends of expanding application portfolios and increasing complexity of deployments in cloud and on-premises environments will continue to create integration challenges for A/NZ small businesses, IDC said.

Copyright © 2022 IDG Communications, Inc.

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