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Is Australia too small to commercialise a great idea?

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There is a perception that Australia is not top of the pops when it comes to innovation, but in reality, it is a different story.

 
Commercialising products or services in Australia, like in any other country, can come with its own set of challenges and considerations.

While Australia is a developed and stable economy with a strong business environment, several factors can make commercialisation challenging:

Geographic Isolation: Australia’s geographic isolation can pose challenges for businesses looking to export products or expand internationally.

The distance from major markets in North America, Europe, and Asia can increase shipping costs and logistics challenges.

Small Domestic Market: Australia has a relatively small population compared to some other developed countries.

This can limit the scale of domestic market opportunities for certain products or services.

Regulatory Environment: Australia has strict regulations and compliance requirements in various industries, including healthcare, finance, and food.

Navigating these regulations can be time-consuming and costly.

High Labor Costs: Australia has a high minimum wage and strong labor protections, which can result in higher labor costs for businesses.

This can be a challenge for industries with labor-intensive processes.

Competitive Market: Australia has a competitive business environment, and businesses often face competition from both domestic and international players.

Professor Tim Harcourt from UTS says Australians are famous inventors, and governments are trying to help them reach their export goals. #featured #tgt

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NASA astronauts phone home, confident Boeing’s Starliner will return to Earth safely

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Stranded NASA astronauts express confidence in Boeing’s Starliner spacecraft, assuring its capability to safely transport them back to Earth from the International Space Station.

The astronauts, over a video call to NASA, highlighted Starliner’s enhanced safety features and testing protocols as reassuring factors for their safe return.

“I have a real good feeling in my heart that this spacecraft will bring us home, no problem…”, said Sunita “Suni” Williams, one of the stranded NASA astronauts.

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Paris Olympics insurers are worried over possible AI-driven cyber attacks

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Insurers are increasingly concerned about potential losses due to militant attacks and AI-driven cyber hacks during the upcoming Paris Olympics.

The upcoming global sports event poses significant financial risks for insurers, who fear substantial payouts in case of terrorist incidents or sophisticated cyber breaches.

Dr. Karen Sutherland from the UniSC join to share all the latest. #featured

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Renowned actor Nicolas Cage faces off against AI, expresses fear of digital duplicates

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Cage, now aged 60, highlighted worries about losing control over how his image might be used in future technologies.

During a interview with The New Yorker, The renowned actor, known for his diverse roles, including in “Face/Off” and “National Treasure,” revealed his concerns about the ethical implications of AI recreating his persona.

“They’re just going to steal my body and do whatever they want with it via digital AI. God, I hope not AI. I’m terrified of that. I’ve been very vocal about it.”

Tom Finnigan from Talkingbrands.ai joins to discuss. #featured

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