$56 million university tech project to create 30,000 finance jobs

By Brian Karlovsky. A world class financial services technology lab at the University of Sydney is looking to double Australia's financial services exports and create 30,000 jobs. The $56 million Financial Services Innovation Partnership, announced today by Federal Innovation Minister, Kim Carr, will aim to “democratise” time series prediction technology by giving a larger number of Australian companies access to predictions of their financial data within a fraction of a second. The technology uses mathematical algorithms and computer systems to predict future values and brings together the brightest minds in the fields of economics, engineering, mathematics and computer science. Director of the University’s Computer Engineering Laboratory, Associate Professor Philip Leong, told ARN the project would double financial services exports and create 30,0000 jobs in the industry. Read more...