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Highlights
- Google has decided to invest a sum of AU$1 billion in Australia in the field of technology and research.
- Google intends to develop a partnership with the Sydney-based Macquarie University on quantum computing.
- The move is expected to bring 6,000 new jobs into Australia.
Technology giant Google has decided to invest a whopping sum of US$740 million or AU$1 in Australia over the coming five years. The move, named as the Digital Future Initiative, would mark the corporation’s largest investment in the country to date.
According to Google, the funds would be utilised to build a research hub, increase its cloud computing capacity and facilitate partnerships with local organisations. One such local organisation is Australia’s science agency, Commonwealth Scientific and Industrial Research Organisation (CSIRO).
The decision could substantially accelerate the ongoing recovery in the country and help steer the nation closer to its pre-pandemic self. Interestingly, the news came shortly after Australia’s legislation was passed, which mandates big tech firms, including Google, to pay for the news appearing on their platforms. Meanwhile, growing calls have been made to reduce the dominance of Google in the country.
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What does this investment mean for Australia?
Investments by large conglomerates are generally followed by a period of heightened economic activity and increased growth. Moreover, labour markets mirror this economic growth as a greater number of jobs are generated in the economy.
According to Prime Minister Scott Morrison, the move by Google is likely to create more than 6,000 jobs, almost triple of what the technology giant currently employs in Australia. Adding to that, Google’s chief executive, Sundar Pichai, stated that Australia could help build the next wave of innovation following the investment. Being home to one of the most successful tech ventures Atlassian, who created the powerful business software Jira, Australia, could help Google build a strong digital future.
In a bid to realise these ideas, Google also intends to develop a partnership with the Sydney-based Macquarie University on quantum computing. Meanwhile, the tech giant is likely to work with CSIRO on a bevvy of topics, from natural hazard management to the protection of the Great Barrier Reef.
What’s in it for Google?
While the move could certainly empower Australia in its recovery journey, it is also expected to bring forth a larger digital market for Google. The company plans to delve into deep technology areas and find solutions in quantum research.
The decision by Google can also be perceived as an effort to redeem its reputation and recover some lost ground. Given that, the potential developments that the quantum research sector can bring forth cannot be ignored. Thus, the partnership is a huge win for Australia as well as Google.
All in all, this investment is a well-thought approach to resolving the persisting issues amidst the pandemic. However, Australia could turn out to be the true conqueror in the process by unlocking the inherent potential in the fields of advanced technology and quantum research.
