Industry

Tech sector lobbying body Australian Innovation Collective has made submission to the government urging for support for start-ups during the COVID-19 crisis.

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The government’s fintech committee has abandoned its original timeline for its inquiry and final report due to the coronavirus pandemic, calling for further submissions around support for the industry.

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The peak industry body for fintechs has pushed for the government to broaden the R&D tax incentive, following the unveiling of a $66.1 billion fiscal stimulus on Sunday.

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The prudential regulator has halted the majority of its planned policy and supervision initiatives in response to the impact of COVID-19.

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A new study has estimated the global artificial intelligence software market will increase in size by five times to reach a value of $204.5 billion (US$126 billion) by 2025.

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