Report: Australia Urged to Play Bigger Role in Global AI Standards

A new report is calling for Australia to play a bigger role in the technologies attached to the artificial intelligence (AI) space if it wants to remain competitive on the international stage.

A 42 page report released on Thursday (March 12) by Standards Australia, a national standards body, lays out a path toward ensuring Australian companies and organizations can influence the global development of AI standards.

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Over AU$86 billion has been spent on AI programs, the report reads, and Australia could play an important part in the international development and deployment of AI tech.

Little Green Pharma Gets Expanded Medicinal Cannabis Licence

Cannabis producer Little Green Pharma (LGP) (ASX:LGP) has received a boost in its production capabilities after securing an expanded medicinal cannabis licence from Australian regulators.

An announcement on Thursday (March 12) states that thanks to the updated licence approved by the Office of Drug Control, LGP can now cultivate medical cannabis and make products with the drug.

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Thanks to an updated licence approved by the Office of Drug Control, LGP can now cultivate medical cannabis and make products with the drug.

Report: Australian Businesses Up Against Cybersecurity Concerns

Cybersecurity concerns have been named one of the key barriers to innovation for Australian organizations, according to a new report.

In its Workplace Innovation Index 2020 report, Australian technology company Ricoh states that the majority of business leaders in the country agree that innovative solutions need to be used to improve products and internal services; however, issues like budget, staff resistance and cybersecurity are currently stifling technological advancements.

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Businesses agree that innovation is the future, but issues like budget, staff resistance and cybersecurity are stifling technological development.

Bod Australia Expands Product Line with Import Licence

Medical cannabis company Bod Australia (ASX:BDA) has increased its product line with the receipt of a new import permit.

On Tuesday (February 11), the cannabis company told investors that it has received approval from the New South Wales Department of Health and Office of Drug Control to import two new cannabidiol (CBD) isolate products with 2.5 percent and 10 percent strengths.

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With three products in its line, Bod now has access to an additional 32 percent of the medical cannabis prescription market in Australia.

ASX-Listed Fintech Firm Hits 1 Million Mark in Active Users

An ASX-listed financial technology company with North American operations has reached an important growth milestone.

Payment solution company Sezzle (ASX:SZL) told investors on Monday (February 10) that it now has over 1 million active users on its purchasing platform.

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Sezzle attributes its recent growth to last year’s Christmas shopping season, which helped the firm quickly grow its consumer base.

Elixinol Dumps Subsidiaries, Racks Up AU$17.3 Million in Fees

One of Australia’s largest cannabis and hemp firms is struggling on the open market as it looks to sell off some of its assets in an effort to focus on the hemp-derived cannabidiol (CBD) market.

Shares of Elixinol Global (ASX:EXL,OTC Pink:ELLXF) slumped 25 percent from market close on Friday (January 31) to the start of the trading session on Monday (February 3) after it told investors it is selling its subsidiary Hemp Foods Australia to a Chinese manufacturing company for AU$500,000.

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Elixinol told investors it is selling Hemp Foods Australia to a Chinese buyer and is halting plans to apply for a medical cannabis cultivation licence for its Nunyara subsidiary.

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