People worldwide have been fascinated by Artificial Intelligence for over a decade. However, the past two years have been the most critical, with chatbots like ChatGPT gaining popularity online. Several A-tier entrepreneurs and tech enthusiasts believe AI is the next big thing and will change the world for good. However, many also say that AI is dangerous and threatens society. At an SXSW conference, Elon Musk, a well-known business magnate and investor, stated:
“And mark my words. AI is far more dangerous than nukes. By Far.”
Marking its popularity, every country in the world has started showing keen interest in the AI sector. Australia, the 11th richest country and ranking 23rd in innovation in the world, is also active in this regard. This article will cover ten amazing AI facts and Australian innovations in artificial intelligence. So, without further due, let’s dive right in.
Artificial Intelligence Statistics and Facts Australia
Artificial Intelligence is the center of focus for the majority of the tech countries in the world, without any doubt. It’s like an unannounced race to achieve the heights in AI. Here are the ten most exciting facts about AI in Australia.
1. AI is Growing Faster than Ever in Australia
Over the past five years (2018-2023), the Artificial Intelligence sector has grown exceptionally. The AI software service industry plays a crucial role in this regard. With a constant increase in demand from downstream and mainstream industries like aerospace, defense, security, etc., the revenue rose at an annualized 12.8%.
The AI tech companies in Australia are treating AI like an asset by constantly upscaling their services for profits in the long run. That’s what keeps the ball rolling generating a “snowball” effect. A study says Australia invested almost thirty million dollars in AI in 2019. The growth rate is set to increase further with the recent popularity and increased global audience in the Artificial Intelligence sector.
2. 40% of Aussies Fear AI Taking Over Jobs
Artificial Intelligence replacing humans is a topic on the hot seat these days. Recently, the well-known chatbot GPT successfully cleared the MBA exam of a reputed institute. Similar fascinating results have left only one question in the mind of people worldwide. “Will AI replace human workers in the future?”
According to a recent survey, around 40% of Australians fear that AI will replace human jobs in the future. Also, a study has found that 63% of cubicle occupations will be automated in Australia by 2030.
3. AI Hiring Index Score in Australia
AI-related occupations have also increased with the increase in popularity. The AI hiring index score increased to 2.1 in the year 2020. We don’t have the numbers for the latest hiring index score yet, but given its popularity, the AI hiring index score is expected to reach near 5.
Even though the Aussies fear AI taking over their jobs, the Artificial Intelligence sector is creating many job opportunities in Australia. As mentioned earlier, the Australian AI market is growing rapidly, creating thousands of potential jobs every week. According to technology statistics Australia, the AI sector will generate 12 million more jobs than it displaces.
4. Australia’s Artificial Intelligence Action Plan
The Australian government is playing an active role in the rapid growth of the AI market. Moreover, the government is encouraging small and large-scale businesses to take advantage of AI opportunities. Given their efforts, the government published “Australia’s Artificial Intelligence Action Plan” on 18 June 2021. The Hon Christian Porter MP, minister for the “Science and Technology” industry, stated in the Artificial intelligence action plan that;
“The AI Action Plan brings the Australian Government’s direct investment in AI to almost half a billion dollars since 2018. The government is committed to elevating Australia to a world-leading digital economy and a global leader in the development and adoption of AI.”
5. Average AI Sector Salary in Australia
As discussed earlier, the Artificial Intelligence sector will produce numerous jobs. The average AI-related job salary currently stands at about 110,000 Australian Dollars (AUD) per year. The Directors of Analytics (DOAs) are the highest-paid employees in the AI sector, with an average salary of 188,000 AUD annually. Here are some other popular job designations with their annual salaries.
|Job Role||Annual Salary|
|Research and Development (RnD) Engineers||$180K|
|Principal Data Scientist||$169K|
|Lead Data Scientist||$133K|
|Head of Analytics||$124K|
6. Use of AI Automation in Australian Industries
Artificial Intelligence is directly related to the driving domain. The leading vehicle companies of the world are primarily focused on producing the most efficient electric self-driving vehicles. Australia has taken the lead in implementing driverless cars in the world.
In Western Australia, Fortescue is using over one hundred and twelve driverless trucks in its mining operations. Broken Hill Proprietary (BHP) Company has over fifty autonomous vehicles and twenty self-operating drills.
7. Top Use-Case by AI Spending in Australia
According to an economic study, Australia’s spending on Artificial Intelligence is expected to reach 3.6 billion dollars by 2025. The rapid growth of several industries is set to integrate with the AI sector. The top use-case for AI spending in Australia is the “Augmented Customer Service Agents”.
Other well-known use cases for AI spending include
- Augmented threat intelligence and prevention systems.
- Digital Assistants.
- Program Advisors and Recommendation Systems.
- Smart Business and Innovation.
Source: International Data Corporation
8. 270% Growth
According to the University of Bridgeport, the Australian AI industry grew by 270% before 2019. Marked by the popularity of the topic and constant investments in the AI industry, the growth is expected to reach over 400% by the end of 2023.
9. AI and Medical Industry in Australia
Medical field is one of the most popular and helpful applications of artificial intelligence. The collaboration between doctors and AI is a topic of interest for most people worldwide. A study shows that over 80% of Aussies are interested in AI implications for diagnosing medical problems.
10. Australian AI and Agriculture
AI also has vast applications in agriculture. In recent years, the Queensland University of Technology developed the “Argon II” robot, which sprays and destroys unwanted weeds. Similarly, the latest AI-driven tech is being developed to increase farming efficiency in Australia.
Here marks the ending to our list of the ten most exciting facts about AI in Australia. Undoubtedly, artificial intelligence is the next big thing in the world. AI tech innovations in Australia are among the top in the world.