(Source: Getty)
The tech sector is firmly in the spotlight, among other things, after Treasurer Josh Frydenberg announced plans to invest $ 1.2 billion in key areas such as cybersecurity, artificial intelligence and consumer data.
Although the money will be spread over six years from 2021 to 22, the money will serve to empower Australians to create tech experts in areas vital to national security and the economy.
According to the budget papers, here is a breakdown of where the money is going, what jobs it will create and where.
More on this Federal budget 2021:
Data security and management: $ 151.7 million
-
$ 61.5 million spent over four years with the Australian National Audit Office for rising costs of complex financial data, records management and IT cybersecurity
-
$ 31.7 million over four years to improve the security of Australian cellular networks and commercialize data security solutions;
-
$ 1.8 million draft and implement a national data security action plan over two years;
-
$ 40.2 million over four years to improve Australia’s location-based data infrastructure and create a 3D digital atlas of Australia;
-
$ 16.5 million over four years to identify government “databases” and create a searchable data “catalog”.
Cybersecurity: $ 127.6 million
Cyber attacks have already become a serious national problem and the 2021 budget provides several million dollars to address the labor shortage that the cyber security sector is indicating.
-
$ 43.8 million over three years will flow into the innovation fund of the Cyber Security Skills Partnership. The aim is to train more and better quality cyber security experts.
-
$ 42.4 million over two years to improve security for “critical infrastructure assets” of national importance and to better respond to cyber attacks;
-
$ 22.6 million Over six years, 234 graduate program grants will be awarded for next-generation emerging technologies in “emerging technology areas”.
-
$ 18.8 million Piloting the delivery of cyber hubs for the entire government.
Artificial Intelligence: $ 124.2 million
The story goes on
-
$ 53.8 million Establish a national AI center as well as four AI and digital skills centers over four years;
-
$ 33.7 million over four years to provide grants to companies to work with government to develop AI-based solutions to “national challenges”;
-
$ 24.7 million over six years to attract and train AI specialists by creating a next-generation AI graduate program and offering scholarships;
-
$ 12 million over five years to offer grants to support business projects that build AI capabilities in regional areas.
Consumer data: $ 111.3 million
Aviation Technology: $ 35.7 million
-
$ 32.6 million Develop the Emerging Aviation Technology Partnerships program to support emerging aviation technologies over a two-year period;
-
$ 1.6 million over two years to create the new drone rules management system to better manage drone rules;
-
$ 1.5 million for the National Drone Detection Network to manage drone security risks.
Business Support: $ 28 million
-
$ 15.3 million Help companies adopt e-invoicing and roll it out at all levels of government
-
$ 12.7 million Reaching 17,000 companies through Australia’s Small Business Advisory Service’s Digital Solutions program
Digital Skills: $ 13.9 million
The budget places a clear focus on qualifying and training Aussies to become the tech professionals the country needs. This contains:
-
$ 10.7 million in three years to test up to four Digital Skills Cadetship pilots;
-
$ 3.2 million for the Digital Technology Taskforce to continue their work on the implementation of the strategy for the digital economy until June 30, 2022
Will that money be enough to create the technicians we need?
Jane Livesey, digital transformation consultant at Cognizant ANZ, said the budget didn’t really address the skills shortage, particularly in cloud engineering, data science and management, and front-end development.
“Demand for these skills is exceeding supply, and salaries for this niche skill have increased more than 30 percent in the past six months,” she said, noting that the closed borders had made finding skilled talent much more difficult.
Pieter Danhieux, co-founder and CEO of Secure Code Warrior, which trains coders to be more security conscious, said he was disappointed that more money was not being spent on cybersecurity.
“What we need is something similar to US President Joe Biden’s recent multi-billion dollar plan to support cybersecurity and the appointment of key members of the cybersecurity and cyber defense cabinet,” he said.
In fact, cybersecurity should have a cabinet role of its own, he said, adding that cybersecurity can easily get “out of sight, out of mind.”
“After cyber attacks by the nation-state and unprecedented access to our sensitive information in the event of a successful data breach, this is a sloppy approach that maintains the previously ineffective status quo.”
Sahba Idelkhani, director of systems engineering at McAfee ANZ, said the budget did not make up for the lack of cyber security guards.
“The small number of people eligible to apply for the proposed next-generation emerging technologies graduate program is nowhere near enough to meet today’s critical talent needs in the context of a highly volatile threat environment accelerated by COVID-19,” said Idelkhani.
Mike Featherstone, APAC managing director of Pluralsight, said there was a “significant gap” in a clear pathway to developing technical skills.
“One thing is certain: your technology strategy is your business strategy – and you cannot have a successful technology strategy without a mature skills strategy,” he said.
If more is spent on digital skills, the nation becomes vulnerable, he added. “While some investments have been made, much more will be needed if Australia is to become a leading digital economy by 2030.”
Find all of our Federal budget 2021 reporting hereand receive it in your inbox via our newsletter Here.
Follow Yahoo Finance on Facebook, LinkedIn, Instagram and Twitterand subscribe to the free Fully Briefed daily newsletter.
