Neal Cross

#NDIS app with blockchain technology raises a multitude of ethical, technical & governance concerns, particularly given the controversial background of its developers who were previously involved with the robo-debt system. This initiative indicates a continued push towards automating compliance & accountability, which could potentially replicate past issues associated with #robodebt #Blockchain, while known for its security & immutability, can present significant challenges in #privacy management, especially concerning sensitive personal data of PWD. The lack of clarity about how data will be handled, who has access & how privacy is safeguarded is a major concern. The use of #algorithms to determine eligibility & the level of aid could replicate biases if not carefully designed & constantly monitored. This is particularly worrying if the algorithm's decision-making process is not transparent to the users or if they cannot contest its decisions effectively. The design of technological #solutions should prioritize the rights & needs of the end-users. This means designing with a focus on enhancing the autonomy & support for PWD, rather than merely streamlining government processes or cutting costs. Implementing blockchain technology in a #complex system like the NDIS involves significant challenges, not just in terms of technology integration but also ensuring that the system is user-friendly for people with varying levels of technical ability. Blockchain systems can face issues with latency & #transaction throughput, especially when scaled to accommodate the needs of all NDIS participants. This could impact the timeliness & reliability. Collecting & managing data across different #stakeholders within the NDIS ecosystem, such as healthcare providers, caregivers & government, requires a robust framework that ensures accuracy & timely updates of records. NDIA must maintain transparent about how the blockchain application was/is developed, deployed, & managed. Establishing an independent #ethical oversight committee would help address potential ethical issues arising from the use of blockchain & other tech. This should include representatives from the #disabled community, ethicists, technologists, & legal experts. The system should be continuously monitored & evaluated against #performance indicators not just related to technical performance but also user satisfaction & impact on service delivery. This should include mechanisms to quickly address any issues or failures in the system. Blockchain technology, while innovative, must be approached with caution to avoid repeating past mistakes associated with #automated decision-making in government services. The focus should always remain on improving the welfare & rights of PWD, ensuring they receive the support they need in a manner that respects their dignity & autonomy. Marie J. https://lnkd.in/g2a9Xetw

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DASH Technology Group receives $20 million investment from tech investor specialist Bailador Technology Investments (ASX:BTI) #startups #startupnews #scaleups #scaleupnews #australianfintech #fintech #fintechnews #finance #financialtechnology #investments #investors #investing #capitalraise #funding #capraise #VC #venturecapital

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💡 We are proud to announce Australian Payments Plus (AP+) has chosen Third Hemisphere to support their #PR efforts 💡 "Australian Payments Plus is at the forefront of transforming payments in Australia, and that is exactly the type of client we work with at Third Hemisphere." said our founder and fearless leader, Hannah Moreno. AP+'s household name brands include BPAY, eftpos Payments Australia, New Payments Platform (Australia), Beem, PayTo, PayID, and ConnectID, and it has over 150 partner institutions that have transacted tens of billions through its infrastructure. It is the backbone of Australia's digital payments future. And we are excited about the opportunity to work with the amazing Lynn Kraus AM and the very impressive team. Bruno Bouchet, Head of Comms, at Australian Payments Plus, said: “We’re delighted to have Third Hemisphere on board to support our public relations. They bring so much experience in the payments space and have a keen understanding of our vital role in ensuring a healthy domestic payments ecosystem and in building trust in payments. Their immediate infusion of energy and enthusiasm has been so exciting.” AP+ will join other leading finance companies in Third Hemisphere’s portfolio, including ASX-listed digital lender MONEYME (ASX:MME), which was Third Hemisphere’s first ever client in 2015, and Australia’s leading provider of PayTo and other instant account-to-account payments solutions, Monoova. Others include global investment and trading technology solutions provider with $20 billion in assets under administration ViewTrade Holding Corp., global private equity investment firm The Riverside Company, and ASX-listed wholesale fund manager focused on alternative assets DigitalX Limited (ASX:DCC). At Third Hemisphere, our unique expertise spans financial services, technology, #investment, capital raising, and capital markets communication, allowing us to craft communication strategies that resonate with a wide range of stakeholders. For full details, click here: https://lnkd.in/gMsZ6-BE What do you think Australia needs to do to stay ahead in payments technology? Share your thoughts in the comments! 🗣️👇

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Introducing Australian FinTech’s newest Member - Breezepay #australianfintech #fintech #fintechnews #finance #financialtechnology #startups #startupnews #australianstartups #fintechstartups #stablecoins #payments #digitalpayments

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Discover the ultimate guide to scaling your Australian business with Google Cloud. Learn how Cloudverse, a trusted Google Cloud partner, can help you leverage cloud technology to optimize operations, reduce costs, and drive growth. #CloudComputing #CloudServices #DigitalTransformation #BusinessGrowth #AustralianBusiness #ScalableSolutions #CloudStorage #AIandML #DataAnalytics #CostEfficiency #GoogleCloudPartner #CloudMigration #CloudSecurity #ITInfrastructure #RemoteWork #DataDrivenDecisions #MachineLearning #InnovationInBusiness #CloudStrategy #BusinessScaling #TechnologyPartner #EnterpriseCloud #CloudOptimization

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Australia's R&D expenditure is at a two-decade low, with our R&D intensity (expenditure as a % of GDP) at just 1.68%, compared to around 3% in the US, Germany, and Japan. This gap is alarming and highlights a significant opportunity for growth. At Sphere Drones, R&D has been pivotal to our success. It has driven innovation, fueled our growth, and enabled us to deliver state-of-the-art solutions. If Australia could match the R&D investment levels of other leading nations, the potential for businesses like ours would be extraordinary. Enhanced R&D funding could spur groundbreaking advancements, boost economic growth, and position Australia as a frontrunner in global technology. It's time for Australia to elevate its R&D game. The future of our tech industry depends on it. Ed Husic MP, we're looking forward to seeing the strategic review drive substantial change. And to Jim Chalmers, where is R&D focus in the budget? We need action to secure our technological future. #Innovation #R&D #Australia #Technology #SphereDrones https://lnkd.in/d6Us6hZy

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Headlines: Today in Australian AI BUSINESS CBA banks on AI: Commonwealth Bank is ‘reimagining banking’ with new consumer-facing AI-powered features. In recent months, these new features have had a 50% reduction in customer scan losses by AI-based checking tech. Further, CBA has reported a 30% reduction in customer reported fraud and a 40% reduction in call volumes over the past FY. Read more here: https://shorturl.at/qoRUn STARTUP Australian startup Ajust has secured $2 million in seed funding led by Carthona Capital to expand its AI-powered consumer advocacy platform. The company, founded by former LegalVision executive Thomas Kaldor in 2022, provides a service that helps consumers resolve issues with businesses through automated communications. Read more here: https://shorturl.at/Oqpfw WOMEN LEADERS Land On Heart’s CEO, Lisa Sarago on AI’s potential for remote Indigenous communities and the overt exclusion of Indigenous voices in the Australian tech sector. Article in SmartCompany: https://shorturl.at/hPzWf or check out Land on Heart’s website: https://landonheart.com/ ETHICS & REGULATION Sanja Galic of Government News speaks to ethical AI leadership and Australian public expectations and needs stating that: “Over half of the people (55%) are in favour of “extensive usage”, with support particularly high among younger people and higher-income households. Australians also express a need for reassurance about risk management and clear governance, with 94% having concerns about AI and 92% wanting government regulation of AI.” Read more here: https://lnkd.in/g4M_Yk88 HEALTH Australian roadmap for artificial intelligence in healthcare launched at AI.Care. Professor Enrico Coiera FAIDH, Director of the Centre for Health Informatics at the Australian Institute of Health Innovation, Macquarie University, and founder of the Australian Alliance for AI in Healthcare (AAAiH), will release the report and detail recommendations. Read more here: https://lnkd.in/gyYSMqDg ONE GLOBAL UPDATE A new AI model called BiomedParse, developed by Sheng Wang and colleagues at the University of Washington, is revolutionising the diagnosis of systemic diseases. BiomedParse can process nine types of medical images, including MRIs and CT scans, improving the identification of complex conditions like lupus and diabetes. In a recent trial, it demonstrated the ability to enhance diagnostic accuracy, identifying cases that traditional methods missed. More here: https://lnkd.in/gVpjDEy7 ONE AI DEFINITION Neural Networks: machine learning programs that process input and generate outputs through interconnected nodes or artificial neurons. These nodes loosely model the neurone in the brain. 

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Small and medium-sized businesses make up 97% of Australia’s 2.6 million businesses. Despite this, the lending landscape is often unfavourable to them which has contributed to a lack of financial inclusion. Why is this the case? We’ve seen that difficulty in accessing data, or a lack of it, means banks and lenders have difficulty lending to customers where they have minimal credit history. Just yesterday we saw data highlighted by The Australian Financial Review that stated AI could boost our economy by $200 billion and create over 150,000 jobs. Increasing credit inclusion will be an important step in supporting this and it is one of the reasons why we started Rich Data Co over 8 years ago as we saw there was a clear opportunity for artificial intelligence in this industry. Our AI decisioning platform at RDC is helping small and medium sized businesses access finance by providing financial institutions with enhanced data, and greater insights around the risks associated with lending. I often explain this approach as teachable intelligence, which means: ✔️ Combining machine learning with knowledge management – this means using insights from the experience of bankers alongside richer data from customers ✔️ Rule-based decision systems that understand a bank’s policy rules from the onset ✔️ Data-infrastructure that creates a richer data history, such as including a customers’ transaction accounts, lending accounts and financial statements I’m a big believer in the power of AI to improve inclusion across the financial sector – check out more of my comments via this weeks LinkedIn News Australia #FinanceWrapUp Misa Han #FutureOfCredit #ArtificialIntelligence #MachineLearning 

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🚨 𝗠𝗮𝘀𝘁𝗲𝗿𝗰𝗮𝗿𝗱 & 𝗩𝗶𝘀𝗮 𝗪𝗮𝗿𝗻 𝗢𝘃𝗲𝗿 𝗣𝗼𝘁𝗲𝗻𝘁𝗶𝗮𝗹 𝗙𝗲𝗲 𝗥𝗲𝘀𝘁𝗿𝗶𝗰𝘁𝗶𝗼𝗻𝘀 𝗶𝗻 𝗔𝘂𝘀𝘁𝗿𝗮𝗹𝗶𝗮 🚨 Global payment processors Mastercard and Visa have raised concerns over the potential fee restrictions being considered by the Reserve Bank of Australia (RBA). 🇦🇺 They’ve hinted that these changes could affect critical consumer protections, such as refunds for fraud victims and undelivered goods. 📊💰 With debit card surcharge bans already set for 2026, this move would be part of a broader government effort to reduce the estimated $1.5 billion Australians pay annually in card surcharges. ⏳💸 The payment giants are emphasizing that while digital payments seem seamless, they come with operational costs. They warn that additional regulation may limit their ability to offer these consumer benefits in the future. 💼🔐 Meanwhile, the RBA continues to review these fees, aiming to balance consumer protection and merchant support. This could lead to significant changes in how Australians pay for everyday purchases. ⚖️💡 #Payments #Visa #Mastercard #Fintech #DigitalPayments #Australia #RBA #ConsumerProtection #Surcharges

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Fintech startup JustFund accelerates growth with $86 million capital raise from Xilium Capital and GCI (Global Credit Investments)   #startups #startupnews #australianstartups #fintechstartups #australianfintech #fintech #fintechnews #finance #financialtechnology #investinginfintech #investments #investors #investing #capitalraise #funding #capraise #growth

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I was surprised the government decided to scrap rules around holding data onshore for the Australian Government Digital Identity Service, so I went digging. Innovation Aus article (first comment - paywall) mentioned banking and tech lobbies 'pressured' the government. The first thing I landed on is the Australian Banking Association's (ABA) submission, and below is what it says. I would have thought that the biggest tech providers (Microsoft, Amazon, IBM) would have secure, onshore cloud services and protocols? The other point the ABA makes is about banks having overseas employees performing roles. This to me looks like a cost-saving exercise (which I can understand), but does not sufficiently prioritise data sovereignty, data privacy, and cyber protocols. Would love someone to shed light on this! "The first impediment relates to the handling of AGDIS data offshore. There may be unintended consequences for data security as many large cloud service providers are located offshore; these providers often have stronger data and cyber security protocols. The draft provision may unintentionally prohibit entities from accessing these more secure services, ultimately increasing the risk of identity information being compromised. In addition to this, banks may have overseas based employees performing roles such as investigating higher risk transactions involving failed matches. A prohibition on the transfer or handling of Digital ID information outside Australia may result in inefficiencies and suboptimal customer experiences"

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Credit file tips helping SMEs unlock better loan terms: Banjo - Business Loans #australianfintech #fintech #finance #businessloans #businesslending #lending #loans #borrowing #businessfinance #fintechnews #SMEs #smallbusiness #credit #creditscores

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Wow. Fastest growing software company! Another incredible milestone for Nexl! This week, we were recognised as the fastest-growing tech company in Australia in this year’s Australian Financial Review Fast 100 List. "Among a pack of fast-growing tech players, Nexl was the highest-ranking in its sector in this year’s The Australian Financial Review Fast 100 List" The AFR also featured Nexl’s journey, and I wanted to share a snippet that’s close to my heart—especially for aspiring founders: “I learned a crucial lesson in transparency and mindset. I never claimed to know with certainty that our new direction would succeed. Instead, I adopted a different approach: ‘We don’t know anything until we try it.’” Building a business is a lot like a treasure hunt: “You follow clues and waypoints, but you don’t know exactly what you’ll find. If you come up empty-handed, you recalibrate, pick a new path, and keep moving forward. This mindset helped us stay resilient, adaptable, and ultimately find a path to real growth.” – Philipp Thurner, Nexl Founder & CEO For anyone starting a new venture, it’s okay to lead without all the answers. Growth often comes from embracing the unknown, learning through action, and staying persistent no matter what obstacles arise. To my incredible team, our clients, and partners: thank you for believing in this journey. Here’s to embracing the adventure ahead!!

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payFURL now available on Payments2us Salesforce app #australianfintech #fintech #fintechnews #finance #financialtechnology #scaleups #scaleupnews #australianscaleups #payments #digitalpayments Salesforce

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