Record-breaking funding trends

AI, healthcare, biotech, and more.

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Maziar Foroudian
August 02, 2024

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Your business's success hinges on protecting your intellectual property assets. In this episode of Let's Talk, our experts stress the significance of trademarks, patents, and copyrights to safeguard your innovative ideas. By staying vigilant and proactive, you can secure your valuable creations and thrive in today's competitive market.

Despite challenges in the VC funding market, AI, IT, biotech, and healthcare companies are thriving, raising a record-breaking $377 billion in the first half of 2024. Healthcare led in funding, while AI startups saw the most significant year-over-year increase, reflecting a shift in investor interest.

Five innovative startups have been selected for Australia's Future Technology Program, addressing key business challenges like productivity and revenue growth. Backed by KPMG and Stone & Chalk, these startups will revolutionize industries with cutting-edge solutions. The program aims to boost efficiency and maintain Australia's global competitiveness.

Queensland's digital innovation festival, Something Digital, highlights the state's need to boost its digital capabilities despite ranking high in innovation. Co-founder Nadine Zrinzo emphasizes the importance of leveraging digital tools for transformation. The festival features global experts discussing AI, digital skills, and customer-centric growth strategies.

IBM's 2024 Cost of a Data Breach Report unveils a 27% surge in average cyberattack costs in Australia, now at AUD$4.26 million. The report emphasizes the importance of security AI and automation in combating threats, highlighting the technology sector as the most affected. Implementing these technologies can save companies millions.

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Salesforce and Workday have joined forces to introduce a new AI employee service agent, streamlining tasks like onboarding and career development. This collaboration aims to enhance employee experiences and efficiency across businesses.

Chairman Jerome Powell of the Federal Reserve has hinted that a rate cut in September is "on the table" if economic conditions remain consistent. This potential move comes after the Fed voted to keep current interest rates unchanged.

Australia

Company off-sites are evolving beyond boring conferences into exciting and innovative experiences that foster team connections. Think nature immersion, axe throwing, Bali trips, sheep herding, and even a spontaneous Wolfmother gig. Get inspired for your next event!

AI is revolutionizing the commercial side of sports, enhancing performance and strategic decision-making in leagues like the NBA and Premier League. From Formula 1 to fan experiences, AI is changing how we interact with sports.

Australian Economy

Major businesses in Australia, including banks and supermarkets, are preparing for the potential collapse of the nation's only major cash transit provider, Armaguard. This follows a sharp decline in cash use due to COVID-19 and rise of electronic payments.

Australia's core inflation measure below expectations led to relief for investors, with sharemarket having its best day since 2022. Australian dollar fell, bond yields tumbled, and chances of RBA interest rate increase next week minimized.

World

China considers introducing a national internet ID to address privacy concerns and online fraud. Critics fear increased government surveillance and social control. The proposal is open for public comment until August.

EU budget talks are set to be intense next year as member countries negotiate over spending items amidst geopolitical shifts like the Ukraine war and climate change urgency. Funding for climate change and defense will require cuts elsewhere.

The Bank of England's decision on interest rates is uncertain, with analysts split on whether rates will be cut from 5.25% to 5%. A potential cut could benefit homeowners and borrowers while affecting savings rates.

Tech

Microsoft has announced that Skype will now be free of ads in its upcoming update. This change aims to provide a smoother and more enjoyable user experience. Other improvements include enhanced AI image creation and OneAuth integration.

Google has introduced new measures to combat the growing issue of AI-generated explicit deepfakes in search results, making it easier for victims to report and remove harmful content. However, deepfake victims continue to face challenges and trauma.

Curated for you

Harvard Business School senior lecturer Jeffrey Rayport discusses the challenges of scaling up for startups in this insightful conversation. From profit market fit to cultural factors, successful scaling requires strategic choices and clear vision.

Financial markets may be automated, but they still follow human rhythms. Daily and seasonal routines impact trading, with young traders left to handle the market while bosses vacation. The challenges of profiting from political news are highlighted.

Google introduces new image-related Search features, including handling deepfakes, updating ranking systems, removing explicit fake content, and expanding the About this image feature. These changes aim to improve the quality and accuracy of image search results.

Summer, a leader in student loans and education benefits, acquires Vault, enhancing its position in the sector. This strategic move brings innovative solutions for HR leaders, saving employees money and reducing turnover.

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