Since the last edition of TMT: The Australian Landscape was distributed in late 2019, businesses and communities across the world have experienced tumultuous disruption as a result of the COVID-19 pandemic. But as we start learning how to live and work with the virus, new and changed opportunities have arisen for the TMT sector in Australia.
In light of the significant geo-political and national security issues presently at play, we begin this edition by considering the new changes to foreign investment review in Australia. M&A activity in the technology sector has remained relatively strong during the pandemic, and the proposed regulatory changes will require careful consideration and planning to ensure deals are not unduly disrupted.
The rapid adoption of digital health technologies during COVID-19 may have provided the push the sector needed to find better traction in the Australian market. We discuss the opportunities for significant ongoing growth of the sector if regulatory issues are well managed. We also consider the review of Australia’s controversial TOLA Act, which gave new powers to law enforcement and intelligence agencies to obtain information and assistance from communications providers, look at how learnings from the pandemic are shaping a new approach to outsourcing and outline some of the challenges and opportunities ‘big data’ and open banking present in the financial services sector.
We also give thought to the rollout of the 5G network in Australia, and consider the ways in which new technologies are being implemented in commercial and residential buildings (including to try to manage health risks) and the effective use of Master Systems Integrators in the procurement model.
Finally, continuing our consideration of the widespread application of artificial intelligence in business, we consider the role of the human author in content created by AI technologies and its impact on copyright subsistence. Unless changes are made to Australia’s copyright law, this could have an adverse impact on investment in AI-created content.
Please enjoy this edition and feel free to contact any member of the Corrs TMT team if you wish to discuss.
Access a copy of TMT: The Australian Landscape, here, or click the ‘DOWNLOAD PDF’ button.
This publication is introductory in nature. Its content is current at the date of publication. It does not constitute legal advice and should not be relied upon as such. You should always obtain legal advice based on your specific circumstances before taking any action relating to matters covered by this publication. Some information may have been obtained from external sources, and we cannot guarantee the accuracy or currency of any such information.