A cabinet minister, a top ASX listed CEO, a US tech giant boss, a leading Aussie tech investor, and Industry leaders discuss how Australia can establish a forward-facing future.
D is, if you look at the contribution of RD to GDP within the OECD, we’ve got 1.8 per cent relative to GDP, and the OECD average is 3 per cent.During the election campaign, a lot of people were saying “What’s your policy on commercialisation?” and “Will you do a review?” Now there are 60 of these bloody things, and they’re now doing a great job collecting dust.
On Richard’s point, there’s about 2 per cent of the firms that are doing the bulk of the heavy lifting when it comes to RI think business investment is one of the biggest opportunities, but also the most necessary reform, for the budget and for the next couple of years ahead. decade in a better place in terms of standard of living, or wages or GDP, without it fundamentally being driven by some kind of innovation and technology-driven improvement.
Australia is the most capital efficient producer of unicorns anywhere in the world. It’s not even close. For every billion dollars of money that pumps into the Australian VC ecosystem, we produce 2.1 unicorns. The next closest is Israel at about 1.6, and then Brazil, weirdly.
So we’re in a world now, where companies are having to rethink their cash overall. And the ones that moved most quickly on this, and were the most agile on this, were showing good management. AI is going to create new jobs. If you ask ChatGPT to create a website for you, it will, but it will be pretty basic and not very beautiful from a customer experience, but then the human will build and evolve and make it better.
The second thing is the balance you have to strike, because you want to take a moment to honour and thank people who have contributed to your organisation, but you also have to motivate and help people who are staying to move forward.One reason for the incongruous idea of redundancies in tech companies during a skills shortage is that 60 per cent of tech jobs don’t sit in tech companies in Australia.
Paul Smith: One issue I wanted to raise with you Ed, is the gig economy and its regulation. What is the government’s plan as it stands?You need to look at what’s driving our interest in that area, and that is that a lot of the people are deep believers that the type of work that can be created by technology, can be sustaining, is secure long-term work.
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