Australia’s IT industry is one of its fastest-evolving and most dynamic. Over the last several decades, multiple tech innovations like Google Maps and WiFi have significantly changed the Australian landscape – turning it into one of the most urbanized countries in the world. And with new trends emerging and being adopted every day, it is only natural that the industry is rife with development, research, and innovation. Below we look at the current state of Australian tech and tell you everything you need to know about the industry.
The IT Sector Is Growing Steadily
Gartner recently released a report on technology spending in the country. Per the findings, Australia’s IT sector will grow significantly over the next few months to record a 5.8 percent growth by the end of 2023. This will be an estimated value of $117.7 billion and an increase of $6 billion from last year. These numbers are testimony to the country’s ability to keep up with the ever-changing tech landscape, especially with key trends like AI, VR, and Metaverse currently ruling the conversation.
Australia Is Keeping Up with the World on AI Adoption
Speaking of which, Australia has not been slow to adopt AI technology. AI, which covers several technologies that can perform human tasks without explicit guidance, is available in multiple forms. SMEs and large firms have adopted it in the form of computer vision, , decision support, optimization, and automation, to name a few.
Australian game providers are using AI to automate the game production process in the gaming sector. A quick look at this will bring you face-to-face with some of the most remarkable results of this adaptation. And according to the numbers, AI adoption in Australia is at 40 percent compared to the global rate of 41. Experts expect this investment to be worth trillions of dollars in the next few decades.
Multiple Industries Are Embracing IoT
Keeping with the theme of new technologies, several Australian industries are adopting the Internet of Things into their operational models. Medical authorities are leveraging smart healthcare devices to monitor patients and inform them of any problems. In the education sector, universities collect data on student interaction, course attendance, and study behaviors to determine how best to improve the student experience and optimize school resources. This information is collected through smart campuses. Meanwhile, the soil and energy, and water infrastructure industries have relegated maintenance and testing activities to IoT.
Battery Energy Is Coming to Western Australia
Elsewhere, Neoen, the renewable energy firm, has to build a long-duration 197mW battery in Western Australia. The battery, which will be added to the grid, can store energy to power the area for up to four hours. Neoen explains that it plans to place 224 Tesla Megapack units near Collie in a project that will provide backup power to the state and connect to the Western Power Shotts Terminal substation. While the project was greenlit in December last year, it will operate from October 2024. The 197Mw battery will be the sixth such battery in the country.
Several Firms Have Been Breached
Diving into cybersecurity, the past few months have been rocky for Australian firms. ABC that Libraries Tasmania suffered a human-error-caused breach on May 5, with more than 560 records going live on the website. The archive contains information on archaeology, conservation, land management, and administration from 1979 to 2006. Per the organization, the breach did release some personal personnel data, but none was banking or tax-related.
A similar tragedy struck at HWL Ebsworth, which serves, among other customers, the National Australian Bank. The notable law firm has lost over a million documents in an estimated 1.45 terabytes of data to the dark web. According to , the breach is the work of BlackCat, a ransomware gang with known Russian links that hacked and tried to extort HWL Ebsworth in late April.
The NAB has maintained that its systems were not affected and remains safe. Nonetheless, these and similar events have put the Australian cybersecurity sector on the offensive.
ChatGPT and AI Are Experiencing Rocky Times
A report by BleepingComputer shows that more than 101,000 ChatGPT user accounts have to malware over the last year. This comes on the heels of a pronouncement by Ed Hussy, the Australian Minister for Science and Innovation, that the government is looking into mandatory labeling for all material generated through AI. In his speech, Hussy expressed concern over using AI to generate lifelike conversations and images without users’ awareness, calling them “serious issues.”
Wrapping Up
While experiencing some rocky times regarding cybersecurity, the Australian tech industry remains as vibrant as ever. The market economy is highly developed, and things are further helped by the Australian government actively empowering businesses to embrace innovation and technology. In 2023, the market has to rebound from security threats while gearing up for trends like the Metaverse, which industry experts believe will revolutionize the field immensely.