Innovation Bites #8 - Velocity Empowerment | 5 Impacts of AI

Welcome to the Innovation Bites #8 - July 2023. We’re recording from the Disruptors Co office at the Quantum Terminal on the lands of the Gadigal People of the Eora Nation. We cover the tastiest and most exciting parts of the Australian innovation ecosystem. This week:

Innovation news headlines including:

• The CSIRO has created a free program to help Small and Medium Enterprises (SMEs) come up with new ideas to tackle plastic waste. This program will give SMEs the power to be creative and find solutions to this global problem.
• Startups that focus on quantum technology have been given $7 million in funding from the New South Wales government.

• Generative AI could add $115 billion to Australia's economy each year by 2030, according to Microsoft Australia News Centre.

• Hostplus, a super fund, has put in an extra $100 million into a commercialisation fund managed by IP Group. This fund is used to help universities turn their research into products and services.

Interview

We also interview Alan Lau from Velocity Empowerment,

Reflections

This week we reflect on the lack of support for businesses working through the "shadow of death" and where we need more support in the commercialisation phase. And we look at the five impacts of new technologies and how we are seeing this play out right now in the field of artificial intelligence.