SXSW Sydney 2024: Our Top 5 Learnings

In October 2024, our team of international lawyers headed to SXSW Sydney. We hosted the “Brews and Beats” event for tech leaders, organized a panel on Global Cybersecurity & Data Privacy in the Age of AI… and generally had a great time speaking and mingling with some of the top tech leaders. 

So what did we learn from our time there? Read on… 

1) AI isn't inherently good or bad

One of the central themes at SXSW Sydney was the nuanced view on AI: it's not about AI itself being good or bad, but about how we use it. 

As we discussed in our panel, AI is a tool - one that holds incredible promise if used ethically but equally significant risks if misused. For example, while AI can help detect fraud or optimize healthcare, it can also enable surveillance or reinforce biases if left unchecked. It’s up to governments, industries, and individuals to define AI’s purpose, ensuring it is developed and deployed with transparency, fairness, and accountability. The future impact of AI will largely depend on the safeguards we put in place now.

2) Data fragmentation poses real challenges

The tech leaders at our SXSW Sydney panel underscored a common issue in AI development: data fragmentation. AI models thrive on large, high-quality datasets to function effectively. However, in highly regulated sectors like healthcare and finance, data is often fragmented: scattered across different providers, regions, and systems.

This fragmentation prevents organizations from building models that can make meaningful, data-driven predictions on a large scale. In healthcare, for instance, the inability to access or share patient data across institutions stifles innovation that could improve diagnostics and treatments. 

Addressing data fragmentation, whether through secure data-sharing frameworks or regulatory alignment, is essential to harness AI’s potential fully.

3) Governments can play a key role

Another major takeaway from our SXSW Sydney panel was the role governments can play in accelerating AI innovation by establishing sovereign AI capabilities. 

For example, Denmark's strategic partnership with Novo Nordisk and NVIDIA demonstrates how countries can leverage local expertise to develop AI in ways that serve their unique national interests. 

By creating AI infrastructures that serve both the public and private sectors, governments can spur innovation while maintaining control over data security and ethical standards. These initiatives also underscore the importance of collaboration between the public and private sectors to foster sustainable and responsible AI innovation.

4) The "scaleup dream" is still alive and well

While much of SXSW revolved around the “stand-out” innovations of 2024 - notably AI - it also featured some of the most exciting scaleup success stories native to Australia. One particularly resonant talk was courtesy of Melanie Perkins, Co-Founder of Canva, and Mary Meeker, General Partner at Bond. 

As a Perth-born-and-bred entrepreneur, Melanie shared her journey from scarf-making ‘hustler’ to the founder of one of the most recognisable brands in recent history. Her story serves as an inspiration to many Australian businesses, not least for the monumental successes Canva has enjoyed, but also the spirit of entrepreneurialism fostered, and encouraged, within the AU.

As legal partners to much of Australia’s commercial market, this interview particularly struck home - and reminded us of the many “Canva’s” on the rise, right beneath our nose. 

5) The next era of "optimisim"?

Finally, we come to one of the most hopeful talks from SXSW Sydney, which featured Australian astronaut Katherine Bennell-Pegg. In this talk, Katherine highlighted the balance between fear, awe, and innovation - and the link between technological advancement and large-scale cultural shifts.

Looking back at periods of great change, Katherine stated,

“The Apollo program not only took us to the moon but shifted culture on earth. It sparked an era of optimism.” 

2024 and the years that preceded it have been densely packed with, not just tech evolutions, but history-making moments that have impacted the entire world. Geo-political unrest, climate change, a global pandemic… and in response, a litany of innovations designed to haul humanity into its next era. 

From healthcare-shifting advancements in mRNA vaccines and CRISPR gene editing to flips fo the working-world - thanks to the innovations in AI and machine learning - one thing is for certain, the future is packed with change. And, it would seem from SXSW, that Australia is prepared to seize it.

In Conclusion 

Another year, another fantastic year at SXSW Sydney. We thoroughly enjoyed meeting tech leaders and sharing knowledge about our industries - so what’s next? 

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