logo
Australian AI startup granted AUKUS exemption for autonomous vessel software

Australian AI startup granted AUKUS exemption for autonomous vessel software

Yahoo16-07-2025
By Kirsty Needham
SYDNEY (Reuters) -An Australian AI startup developing software for crewless boats said it has been granted one of the first AUKUS exemption licences by the Australian government, allowing it to share information with defence contractors in the U.S. and Britain.
Defence officials have said Australia will rely more on autonomous systems to protect its vast coastline and up to 1.2 million square miles (3.1 million sq km) of northern ocean, even as it spends billions on nuclear-powered submarines.
Australia, the United States and Britain removed significant barriers on defence trade in August through an exemption to the U.S. International Trafficking in Arms Regulations, designed to speed up construction of nuclear-powered submarines under the Australia-UK-US (AUKUS) pact.
The co-founder of the Greenroom Robotics startup, former Royal Australian Navy engineer Harry Hubbert, told Reuters the licence exemption will also speed up the company's collaboration on autonomous vessel trials with defence companies in Britain and the United States.
Greenroom's software acts like "the brain of a vessel", he said, emulating what a helmsman or navigator would do by talking to the rudder, engine and radar systems on board.
Trials of the software have been conducted on boats ranging from a one-metre long research vessel to an offshore patrol boat, he said.
Greenroom has a partnership with navy shipbuilder Austal Australia and has also worked with British company Subsea Craft on a tactical water vessel, Hubbert said.
Greenroom's software is dual-use, and can also be applied to help vessels monitor for whales, he added.
"The opportunity with AUKUS is that we can enter U.S. and UK markets but also expand the horizon," he said.
With around 80% of the ocean floor uncharted to modern standards, autonomous vessels can gather information that helps ocean research, national security needs and sea-borne trade, he said.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Hidden way Aussies are cutting $20,000 from their tax bill every year
Hidden way Aussies are cutting $20,000 from their tax bill every year

Yahoo

time10 minutes ago

  • Yahoo

Hidden way Aussies are cutting $20,000 from their tax bill every year

For most Aussies, tax isn't just a cost - it's often their single biggest expense. Particularly if you're earning a decent income, you're likely handing over tens of thousands of dollars to the Australian Taxation Office (ATO) each year. That's more than most people's mortgage, school fees, or even their annual holiday budget. This can be super frustrating. You're not doing anything wrong, you're just following the system. RELATED Expert's secret to retire early 'without earning more money' Little-known Centrelink perk offers Australian students free flights Massive queue exposes urgent Australian job trend as numbers hit record levels But the thing most people don't realise is that by being smart and using the rules to your advantage, there are legal ways you can claw back $20,000 or more every year in tax. And the best part is that you can do it without cutting a single dollar from your spending or lifestyle. Just to be clear, this isn't about tax dodges, claiming your work laptop, or a few extra kilometres in your car logbook. This is about understanding how the tax system actually works - and then using the right tactics to make it work for problem: earning more means keeping less In Australia, we work under what's called a 'progressive' tax system. This means that the more money you earn, the more tax you pay per dollar. If you're on a solid income, getting into the six-figure territory, you're probably handing over somewhere between $20,000 and $50,000 (or more) each year in tax. But the kicker is that as you work harder, that number gets bigger, and fast. Promotions, bonuses, or pay bumps can push you into the higher brackets where nearly half of every new dollar you earn disappears in tax. The thing that most people miss is that you don't just have to cop it. With the right strategy, you can reduce your tax burn and grow your money at the same time. Don't just earn more (structure smarter) There's no single silver bullet here, but there is a system smart people are using to reduce tax while building serious financial momentum. It's a combination of three high-impact moves; negative gearing, debt recycling, and tax effective investing. None of these tactics are secrets, and they're all fully in line with the ATO's rules. But what's less commonly understood is how they can work together to completely reshape your financial future. Negative gearing Negative gearing has copped its fair share of political heat. But when done right, it's a smart tool - not a get-rich-quick scheme. Negative gearing works when you borrow money to acquire an investment (like property or even shares) and the expenses of your investment (like interest on a loan) are more than the income your investment generates. When this happens, you create a tax deductible loss that reduces your taxable income earned today, and your tax bill today. Over time, the value of your asset or investment grows, and this growth can be used to build your wealth over time. If you're thinking about negative gearing, it's important you choose quality investments that actually grow over time. And importantly, you need to be smart with your cashflow planning and make sure you don't overextend. The goal isn't to lose money, it's to bring forward tax savings while growing serious wealth over the years ahead. Debt recycling If you own a home and you're paying down your mortgage in the standard way outlined by the banks, you're sitting on a huge financial opportunity. Debt recycling is a strategy that gradually converts your non-deductible home loan into tax deductible investment debt. Through this strategy, you're using the equity in your home to invest, generally into income producing assets like shares. When you do this, this portion of your mortgage becomes tax deductible. With this strategy, you're paying down and reducing your non tax deductible mortgage debt, and 'replacing' it with tax deductible debt. And the opportunity here is huge. Based on Australia's average mortgage size of $660,000 and an interest rate of 6 per cent, this has the ability to generate $39,600 in tax deductions. Over time, you're shrinking the bad debt on your mortgage while growing an investment portfolio that cuts your tax bill and builds passive income at the same time. This strategy is one of my favourites. Tax effective investing Most people that invest do it all by owning their investments in their own name - but that's not always the smartest move, particularly if your income is in the higher tax brackets. Investing through tax structures like family trusts, investment bonds, companies, and even superannuation can all allow you to cut the tax on your investment income while maintaining full control over your investments. Depending on your situation, these structures can also allow you to spread income across multiple people, cap tax on investment returns, or defer tax entirely. For example, investing through an investment bond will cap the total tax paid at 30 per cent, and eliminate tax on capital gains when you hold your investments for ten years or more. That alone can make a huge difference to your investing bottom line over time. Worth calling out that tax structures are complex, and probably not the sort of thing you want to DIY. If you're thinking about going down this path, you should talk to an expert to get your structure right and make sure it fits with your lifestyle and goals. This isn't a one-size-fits-all approach. The wrap Individually, these three tax-saving strategies can save you money. But when used together, they can easily cut your tax bill by $20,000 or more each year - which is money you can then reinvest to grow your money faster. Over a decade, that's a solid six figure difference in your position, not to mention the extra growth you get on the money. And the kicker here is that you don't need to earn an extra dollar more to get there. This is simply about using what you already have more effectively. Tax is high in Australia, but if you aren't using the tools you have available to you, you're playing the game with one hand tied behind your back. The people cutting their tax bills and using the money to get ahead faster aren't lucky - they're better informed, and have decided to play smarter. Ben Nash is a finance expert commentator, podcaster, financial adviser and founder of Pivot Wealth. Ben's new book, Virgin Millionaire; the step-by-step guide to your first million and beyond is out now on Amazon | Audiobook. If you want some help with your money and investing, you can book a call with Pivot Wealth here. Disclaimer: The information contained in this article is general in nature and does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it, and where appropriate, seek professional advice from a finance in retrieving data Sign in to access your portfolio Error in retrieving data

AI in Africa to Top $16.5B by 2030: Mastercard Explores Path for Continued Digital Transformation
AI in Africa to Top $16.5B by 2030: Mastercard Explores Path for Continued Digital Transformation

Yahoo

time10 minutes ago

  • Yahoo

AI in Africa to Top $16.5B by 2030: Mastercard Explores Path for Continued Digital Transformation

Key insights from Kenya, South Africa, Nigeria and Morocco demonstrate AI's potential to drive financial inclusion, job creation and innovation. Up to 230 million digital jobs projected in Sub-Saharan Africa by 2030 – but infrastructure, regulation and local talent remain critical gaps. NAIROBI, Kenya, August 06, 2025--(BUSINESS WIRE)--Mastercard has today released its latest whitepaper, Harnessing the transformative power of AI in Africa, a pan-African study of the continent's readiness, opportunity and roadmap for responsible artificial intelligence (AI) adoption. The whitepaper provides detailed insights into how AI—if deployed responsibly and inclusively—can unlock transformative outcomes across the continent's major industries, including agriculture, healthcare, education, energy and finance. With Africa's AI market projected to grow from USD 4.5 billion in 2025 to USD 16.5 billion by 2030 according to a recent report from Statista, the paper presents a clear case for multi-stakeholder collaboration and investment. It highlights how Africa's unique demographics, mobile-first infrastructure and entrepreneurial spirit position it as an active architect of the future. Mark Elliott, division president, Africa at Mastercard, commented: "Africa's engagement with AI is already reshaping lives — not just in labs, but in farms, clinics and classrooms. To unlock its full potential, we need investment in infrastructure, data, talent, and policy. At Mastercard, we believe responsible, locally rooted AI can drive inclusive growth and connect more people to opportunity." The whitepaper outlines the potential positive impact of AI on digital infrastructure, policy and governance, research and development, local language processing and investment into Africa. It also explores how AI can accelerate job creation, with up to 230 million digital jobs projected by 2030, and increase access to formal finance through AI-enabled credit scoring and fraud prevention. Greg Ulrich, chief AI and data officer, Mastercard, said: "AI is only as powerful as the trust behind it. At Mastercard, we're committed to building AI that's responsible, inclusive, and built to bring value to our customers, partners and employees. This isn't just innovation—it's innovation with integrity." Regional highlights covered in the whitepaper include: South Africa: South Africa attracted USD 610 million in AI-focused venture capital in 2023, with total AI investment expected to reach USD 3.7 billion by 2030. With the highest data and infrastructure readiness in Africa, the country is solidifying its role as a continental leader in AI research and application. It is home to the Artificial Intelligence Institute of South Africa which serves as a gateway for students and professionals to access world-class education, research and industry news. National plans aim to develop up to 300 AI start-ups and train 5,000 AI professionals by 2030, creating the foundation for a vibrant, homegrown AI ecosystem. Kenya: An emerging leader in AI innovation, Kenya has leveraged its "Silicon Savannah" status to securely deploy AI across sectors. Platforms like Tala use mobile data for credit scoring, while Jacaranda Health's UlizaLlama, an AI-powered chatbot, provides maternal health support in five local languages. The newly launched National AI Strategy (2025–2030) outlines the government's commitment to positioning Kenya as a regional leader in AI research and development, innovation and commercialization for socioeconomic development. Nigeria: Nigeria ranks second in the number of AI startups in Africa and secured USD 218 million in VC investment in 2023. As one of Africa's most dynamic AI ecosystems, Nigeria is using AI to personalize learning (Rising Academies), deliver microfinance via and strengthen governance with AI tools that monitor public fund allocation. With a $1.4 billion projected AI market size by 2025, the government's proactive approach, combined with growing private-sector innovation, suggests promising growth in AI applications. Morocco: An emerging AI hub in North Africa, Morocco is advancing AI adoption across healthcare, energy, agriculture, and finance. Institutions such as Mohammed VI Polytechnic University and DeepEcho are driving local innovation, while the MoroccoAI Annual Conference is shaping national dialogue on the future of AI. Under its Digital 2030 strategy, Morocco aims to attract USD 1.1 billion in investment and create 240,000 digital jobs by 2030. Despite this progress, the whitepaper warns that data fragmentation, language exclusion and regulatory inconsistency could deepen the digital divide. Harnessing the potential of AI in Africa will be instrumental in accelerating financial inclusion and driving the continent's digital and economic growth. Strategic collaborations between governments, fintechs, and global partners will be key to unlocking AI's full impact. Mastercard's whitepaper draws on insights from leading African technologists, policymakers, academics and entrepreneurs, including interviews with UNESCO, the African Center for Economic Transformation, and fintech leaders across the region. To download the full whitepaper, click Editor's Note 'Harnessing the transformative power of AI in Africa' has been written by White Paper Media Consulting (WPM) in partnership with the Mastercard EEMEA team. The findings and outcomes presented in this paper are based on interviews of various key stakeholders named in the report. These were put into perspective with contextual research by WPM. Markets covered include Kenya, Morocco, Nigeria and South Africa. Infographic and report design is by WPM. About Mastercard Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential. *Source: AETOSWire View source version on Contacts Kanyi Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

How DeepSeek and Open-Source Models Are Shaking Up AI
How DeepSeek and Open-Source Models Are Shaking Up AI

Bloomberg

time10 minutes ago

  • Bloomberg

How DeepSeek and Open-Source Models Are Shaking Up AI

Tech companies and academics have long wrestled with the risks and rewards of building open-source software. But the frenzy around generative artificial intelligence has lent new significance to the debate. DeepSeek and other Chinese companies have pushed out a wave of low-cost, open source models that rival software from the top American AI developers. In response, OpenAI, a leading US AI company, has released a new open model, its first in six years. The Trump administration has called for more US tech companies to do the same.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store