Microsoft To Invest $3.2 Billion in Australia To Boost AI

CIOTechOutlook Team | Tuesday, 24 October 2023, 01:53 IST

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Microsoft said it will spend A$5 billion ($3.2 billion) in Australia over the next two years growing its artificial intelligence (AI) and cloud computing capabilities as part of a broader push that includes skills training and cyber security. The tech giant claimed it will increase its processing capacity in Australia by 250%, allowing the world's 13th largest economy to satisfy demand for cloud computing, which was predicted to quadruple from 2022 to 2026 as AI became more popular.
 
The spending amounts to a charm offensive by Microsoft in a country that began public consultation this year over regulation of AI, which stands for artificial intelligence but is a term often used to describe fast automation, since Microsoft-backed OpenAI stunned the technology world with lifelike language program ChatGPT in 2022, as per economic times.
 
In addition to the A$5 billion, Microsoft said it would fund training 300,000 Australians in skills needed to "succeed in the digital economy" and expand a cyber threat information-sharing arrangement with Australia's cyber security agency, the Australian Signals Directorate.
 
"This is a major investment in the skills and workers of the future," Australian Prime Minister Anthony Albanese said in a statement issued by Microsoft. "We need to provide the skills to enable Australians to succeed in the jobs of the future."
 
The expenditure plan, according to Microsoft Vice Chairman and President Brad Smith, is "a testament to our commitment to the country's growth and prosperity in the AI era." 
 
Steven Worrall, Microsoft's managing director for Australia, stated that the funds would "not only enable a safer and more secure digital economy, but also provide a platform to foster growth and innovation in the AI era."
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