Big data has been predicted to be the most important factor in ushering competitive edge across all industries in Queensland in the near future. With the aid of high-end technologies such as artificial intelligence (AI), machine learning, robotics as well as the groundbreaking autonomous machines, including vehicles, the market is going to see a significant transformation in the coming years. Minister for Innovation, Kate Jones states that Advance Queensland has been envisioned to make headways to a more secure future for the state. The objective is to create opportunities for the generation to come, which is being considered as a revolutionary step toward strengthening the economy of the state.
The minister also added that the overall investment made in Advance Queensland has been upgraded to a $650 million program, out of which $15 million is being invested in the IndustryTech fund in order to support projects meant to develop and leverage cutting-edge technologies in Queensland. In addition, developers are also keen on establishing an AI hub. “Queensland is aimed at emerging as the torchbearer for the world in terms of the application of these major technologies, which are likely to uplift the existing as well as the evolving industries. The IndustryTech fund will go hand in hand with the project and assist in leveraging the technicalities that make or break the infrastructure of startups or SMBs. Furthermore, this will enable researchers and industry partners to assess the current business scenario of specific industries and make wiser decisions.
Talking of making advancements in the technology sphere with the help of the IndustryTech fund, Jones highlighted how Queensland has been positioned as the global center for technology development. Drones technology has been successfully implemented in the state for the development of the defense sector, resources space, and even the agriculture industry. Although the aforementioned technologies will pave the way for more job opportunities, Jones believes the state needs adequately skilled professionals to carry forward the development further. As per the current situation, the AI landscape has been filled by only eight specialists. The AI hub will be established in the Fortitude Valley, with an objective to foster more skills in the space and simultaneously connect startups catering to the AI sector and researchers.
This is not all. Regional Queensland will be exhibiting new technological beginnings, with the Regional Internet of Things (RIoT) at the backdrop, which will help businesses, councils, as well as communities to experiment the benefits of connected devices in factories and on farms, along with towns or cities as a whole.
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