Ministers for the Department of Industry, Science and Resources
Australian AI companies will now have the opportunity to connect with some of Australia’s largest firms, in a huge boost to our growing domestic AI industry.
Major financial institutions representing more than $22 billion in annual procurement spend have joined a new push to help Australian AI companies secure enterprise customers.
The Buy Australian AI Partnership, an initiative of Stone & Chalk supported by the Australian Government through the National AI Centre, will help Australian AI companies turn innovation into commercial scale.
The program will help Australian AI companies build a deeper understanding of how large organisations evaluate, procure, govern and deploy AI, strengthening their readiness to secure and deliver opportunities.
Partners will play a hands-on role in helping Australian AI companies navigate the path from promising technology to deployment.
AI use in Australia is booming, but much of the technology purchased by Australians is owned overseas.
Australian organisations are making AI procurement decisions now that will carry them forward for the next few years. Those decisions will influence whether Australian AI companies secure the customers, revenue and scale needed to grow and thrive.
To help Australian AI companies compete, the program will connect them with potential customers across the economy, including banks, retailers, insurers, government agencies and small businesses.
The first intake will focus on financial services, a sector with well-established procurement and compliance practices.
Stone & Chalk will bring together Commonwealth Bank of Australia (CBA), Westpac Banking Group, ANZ, NAB and Cuscal as Founding Partners, helping Australian AI companies better understand the needs of major organisations and build pathways to commercial opportunities.
Gradient Institute will support the Partnership as a delivery partner, bringing expertise in responsible AI assurance to help participating organisations assess and adopt AI solutions with confidence.
The Partnership has attracted backing from across Australia's technology, banking, insurance and innovation ecosystems, demonstrating broad industry support for strengthening domestic AI capability. Supporting organisations include the Australian Banking Association (ABA), Customer Owned Banking Association (COBA), Insurance Council of Australia, Australian Information Industry Association (AIIA), Committee for Economic Development of Australia (CEDA), Solana and MYOB.
This initiative supports the National AI Plan's ambition to back Australian AI capability and scale AI adoption by helping Australian AI companies connect with major customers and grow their businesses.
It builds on the National AI Centre's work to increase awareness and adoption of Australian AI, helping ensure Australian organisations are better equipped to identify, assess and engage local AI providers.
Expressions of interest are open and eligible Australian AI companies are encouraged to apply.
For more information on the Buy Australian AI Partnership, visit Buy Australian AI Partnership Program | National AI Centre.
Quotes attributable to Assistant Minister for Science, Technology and the Digital Economy, Dr Andrew Charlton:
“We are in a sliding doors moment for Australia’s AI industry. As the importance of this technology grows, we need to ensure Australia is a creator and not just renter of AI.
“Australian AI companies are already building world-class technology – there are over 1500 of them. The challenge is getting in front of the organisations that can buy their products.
"The Buy Australian AI Partnership will help connect innovative Australian AI companies with major buyers, creating new opportunities for local businesses to grow and scale."
Quotes attributable to Lee Hickin, Executive Director, National AI Centre:
"Australian AI companies are already building innovative solutions across the economy. The opportunity now is to help more of them grow, scale and succeed.
"The Buy Australian AI Partnership is designed to build our AI economy, to be makers not takers. It gives Australian AI companies direct exposure to enterprise expectations, while helping organisations better understand the capability available locally.
"By connecting Australian AI companies with major organisations, we're helping create the commercial opportunities that drive investment, capability and long-term growth across Australia's AI ecosystem."