Australia's AI sector offers a $115 billion potential, but Robyn Denholm believes it could be multiplied by ten.
In the heart of Australia's tech industry, a call to action echoes, led by trailblazers like Robyn Denholm, Tesla's Chair, and Allegra Spender, a Federal Minister. They encourage women to seize the moment, build companies, and aim high, particularly in the rapidly growing field of Artificial Intelligence (AI).
Denholm emphasises that AI is a broad set of technologies, not just a single entity like a chatbot. She believes an attitude of resilience is crucial for women and the AI innovation economy, as pushing the frontier forward inevitably involves some failure.
The landscape for women in AI is not without challenges. Mid-career women face "hidden penalties," with nearly half believing having children hinders career progression, and a third agreeing that having children has or will limit opportunities for promotions, leadership, or new responsibilities within their company.
However, Australia can capitalise on the $115 billion AI opportunity by accelerating investment in AI technologies, expanding AI adoption across industries, and leveraging government programs that support AI integration. The Australian government’s Artificial Intelligence Adopt Programme, which has allocated $17 million to establish AI adoption centres nationwide, is a key enabler to help businesses remain competitive and innovate in a digital marketplace.
Women can seize this moment by focusing on emerging AI-driven markets, leveraging government initiatives, pursuing opportunities in deep customer engagement, and addressing the AI skills shortage by filling the gap with diverse perspectives and talents. Encouragingly, AI deployment is accelerating in Australia, with measurable improvements acknowledged by organisations, though skills shortages remain a challenge.
Despite progress, systemic barriers continue to undermine career advancement for caregivers, particularly women. The 'Driving Change in Tech' report by Women In Digital reveals that flexible work has become an embedded part of the workforce. Addressing these barriers and fostering inclusive leadership and innovation is key to bridging the gap.
The Pipeline conundrum is not just about attracting women into the industry but also retaining, developing, and advancing them into leadership roles at all ages and stages. The Missing Middle is where cultural and structural barriers intensify, leading to stalled progression and attrition.
There is a gender discrepancy in confidence, with more male respondents expressing confidence in applying for senior digital positions than their female counterparts. However, Google managing director Mel Silva encourages support for those aiming for success in AI, using a sports analogy to emphasise the importance of teamwork and collaboration.
Robyn Denholm warns that Australia risks missing out on a potential $115 billion AI windfall if it doesn't act now, as we're still in the early stages of AI development, referred to as "inning zero." She advises against waiting until a tech wave is "three-quarters over," as it's too late then.
In summary, Australia’s growth in AI adoption is supported by government investment, strong industry demand, and substantial projected economic returns. Women can take advantage of this landscape by engaging with government programs, targeting high-growth AI sectors, addressing skills gaps, and leveraging funding opportunities to build AI companies that innovate and compete both locally and globally.
- Robyn Denholm, Tesla's Chair, encourages women in Australia's tech industry to aim high, particularly in the field of Artificial Intelligence (AI), viewing it as a broad set of technologies that goes beyond a single entity like a chatbot.
- In the heart of Australia's tech industry, Allegra Spender, a Federal Minister, and Robyn Denholm echo a call to action, encouraging women to build companies and seize the moment, especially in the rapidly growing field of AI.
- Women in mid-career face challenges in the landscape of AI, with nearly half believing that having children hinders career progression, and a third agreeing that having children has or will limit opportunities for promotions, leadership, or new responsibilities within their company.
- To capitalize on the $115 billion AI opportunity, Australia should accelerate investment in AI technologies, expand AI adoption across industries, and leverage government programs that support AI integration, such as the Artificial Intelligence Adopt Programme, which has allocated $17 million to establish AI adoption centers nationwide.
