The Massachusetts Institute of Technology (MIT) will work with BankSA and Optus to launch a ‘Living Lab’ in Adelaide, with the South Australian capital set to join New York, Beijing and Istanbul in playing host to the data analytics initiative.
The living lab will be based at the Lot Fourteen innovation precinct.
A statement released by the state government said that the lab “will bring together the public, private and research sectors, analysing data to determine the most effective ways for South Australia to drive both economic and sustainable population growth.”
“We identified Adelaide early on as the prime location for a Living Lab in Australia and the broader region due do its leadership in data analytics and machine learning,” professor of media arts and sciences at MIT, Alex ‘Sandy’ Pentland, said in a statement.
“We are excited to join with our corporate partners, BankSA and Optus Business and the government of South Australia in developing our newest Living Lab at Lot Fourteen.”
“We need to identify the right interventions to help our economy grow and the power in the Living Lab lies in being able to pinpoint what the roadblocks are, and generate valuable insights to propel the state forward,” said BankSA chief executive Nick Reade.
“South Australia has a unique opportunity to use the Living Lab and the insights it will provide to urgently address issues such as population growth, ensuring it is done with full insight and planning, which will be vital for the long-term sustainability and prosperity of the state.”
“The Living Lab Project brings together like-minded organisations so that the perspective of government, academia, corporates and start-ups can be considered,” Optus Business managing director Simon Vatcher said.
“We recognise that the success of Optus Business rests on our ability to help our enterprise and government customers use innovation to operate more efficiently, tap into emerging markets and opportunities, and satisfy the evolving needs of their customers. The Living Lab will help us achieve this.”