“Technology-driven innovation enhances efficiency, lowers costs, and unlocks new avenues for sustainable growth. As global markets shift and competition intensifies, our ability to lift productivity, grow exports, and achieve long-term economic sustainability depends on accelerating the adoption and effective use of advanced technologies—particularly AI.
“The risk of doing nothing is simply too great, and the choice is stark. Act now and develop a competitive advantage, or risk falling further behind.”
Reti said the investment would bring the best researchers and businesses together to build capability, fast-track commercialisation, and create high-value jobs and new opportunities for researchers.
In July, the government announced the establishment of the New Zealand Institute for Advanced Technology (NZIAT), and the funding for AI research will be the second investment from the institute, the minister said.
Healthcare applications show promise
Reti highlighted a partnership between the Auckland Bioengineering Institute and the Oden Institute at the University of Texas as an example of AI’s potential benefits.