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Origin Energy allocates $210M in Kraken’s separation from Octopus Energy.


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  • Origin Energy allocates $210 million towards Kraken’s separation from Octopus Energy.
  • Kraken, with a valuation of $12.91 billion, will establish itself as a standalone entity.
  • Kraken’s AI-driven platform manages more than 70 million customer accounts globally.
  • This demerger opens doors for a possible Kraken IPO in the next two years.
  • Origin Energy holds a 22.7% share in Kraken after the deal.
  • Origin relinquishes exclusivity on Kraken’s services in Australia in exchange for further equity.

Kraken’s Autonomy: A New Era

In a notable development in the energy landscape, Octopus Energy from Britain has revealed the separation of its technology division, Kraken, into an independent firm, valued at an impressive US$8.65 billion (AU$12.91 billion). This action follows a fruitful funding initiative led by D1 Capital Partners.

Origin Energy invests in Kraken's separation from Octopus Energy

Kraken’s Contribution to the Energy Industry

Kraken delivers state-of-the-art energy software solutions to prominent utilities and energy firms internationally, including EDF, National Grid US, Tokyo Gas, and Australia’s own Origin Energy. Its AI-empowered operating system is currently responsible for overseeing over 70 million customer accounts, underlining its extensive influence in the energy sector.

Financial Support and Expansion Opportunities

Current and new investors, including Origin Energy, are poised to acquire around US$1 billion in Kraken’s shares, with Origin dedicating US$140 million (AU$210 million). This funding represents a crucial advancement toward Kraken’s separation from Octopus Energy, which will still hold a 13.7% interest.

IPO Possibilities Ahead

The demerger has triggered conversations regarding a potential Initial Public Offering (IPO) for Kraken within the next two years, as indicated by The Financial Times. While Reuters could not substantiate this, the possibility of a Kraken IPO introduces an intriguing aspect to its future.

Strategic Decisions by Origin Energy

Origin Energy, utilizing Kraken to enhance its retail operations, will sustain a 22.7% stake in Kraken after the deal closes. Furthermore, Origin has decided to forfeit exclusivity on Kraken’s services in Australia, procuring an additional 1.5% equity stake in exchange. This strategic alteration may foster increased competition and improve service offerings across Australia’s energy landscape.

Conclusion

Kraken’s transition to an independent organization signifies a considerable transformation in the energy sector, with notable investments and strategic adjustments setting the stage for potential growth and development. Origin Energy’s proactive stance demonstrates its dedication to embracing innovative technology to transform its business framework and potentially reshape the Australian energy scene.

Q: What is Kraken’s primary function in the energy sector?

A: Kraken offers AI-powered energy software solutions to leading utilities and energy organizations globally, overseeing over 70 million customer accounts.

Q: How much is Kraken valued at following the spinout?

A: Kraken’s valuation stands at US$8.65 billion (AU$12.91 billion) after the separation.

Q: What role does Origin Energy play in Kraken’s future?

A: Origin Energy has invested US$140 million (AU$210 million) in Kraken, retains a 22.7% stake, and has waived exclusivity for additional equity.

Q: Is there an IPO planned for Kraken?

A: There are indications of a potential IPO for Kraken within the coming two years, although this has not been officially verified.

Q: How does the demerger affect Octopus Energy?

A: Post-demerger, Octopus Energy will keep a 13.7% share in Kraken and will secure an extra US$320 million investment into its operations.

Q: What impact might this have on the Australian energy market?

A: By waiving exclusivity, Origin Energy may promote heightened competition and innovation in the Australian energy sector as more companies gain access to Kraken’s technology.

Murray Irrigation Landowner Information Accidentally Revealed in Significant Breach


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Quick Read

  • Murray Irrigation accidentally revealed landholder information.
  • Information was disclosed on the ArcGIS Online platform.
  • Revealed data included personal information and account balances.
  • Not all clients experienced the breach.
  • The organization has fortified the system and initiated an external inquiry.

Incident Overview

Murray Irrigation recently encountered a major data breach when confidential details regarding its landholders were unintentionally revealed via its ArcGIS Online platform. This event has sparked worries about data security protocols within the organization, which operates under a license from the NSW government.

Details of the Data Exposure

The breach included 10 categories of data being made publicly available, such as personal details, water account balances, landholding information, and “customer flags.” While the organization has indicated that not all of its clients were influenced, they did not clarify the exact number of affected individuals.

Response and Containment Measures

Murray Irrigation has acted promptly to rectify the breach, securing the system to avert further exposure. The organization has additionally announced intentions for a comprehensive external inquiry to identify the root cause of the incident and implement strategies to prevent future incidents.

Implications for Data Security

This breach underscores the vital necessity of robust data security measures, particularly for organizations managing sensitive information. As digital platforms become essential to operations, guaranteeing the integrity and confidentiality of data must remain a foremost concern.

Summary

The situation involving Murray Irrigation acts as a stark reminder of the risks that digital systems can present. Although the organization has taken measures to contain the breach, the scenario emphasizes the importance of continual vigilance and enhancements in data security practices.

Q&A

Q: What type of information was exposed in the breach?

A: The exposed information included personal details, water account balances, landholding data, and “customer flags.”

Q: Did the breach impact all Murray Irrigation customers?

A: No, not all clients were impacted, but the company has not identified how many were affected.

Q: What measures has Murray Irrigation implemented to manage the breach?

A: They have secured the system to prevent further exposure and launched a full external investigation.

Q: Why is data security crucial for organizations like Murray Irrigation?

A: Ensuring data security is essential to safeguard sensitive information and uphold trust with stakeholders, particularly when handling critical data such as personal and financial details.

Q: Which platform was involved in the data exposure?

A: The information was unintentionally made public on Murray Irrigation’s ArcGIS Online platform.

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Tesla FSD v14 Encounters Its Most Significant Test to Date: A Cross-Country Journey Without Human Assistance


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Tesla FSD v14 Embarks on a Cross-Country Journey

Brief Overview

  • Tesla’s FSD v14 exhibits its functionalities in a cross-country US journey without human operators.
  • The trip acts as a vital evaluation for Tesla’s forthcoming Robotaxi service.
  • David Moss’s travels cover around 4,500 kilometers with various updates throughout.
  • The successful execution of this expedition may open avenues for self-driving in Australia.
  • The FSD system navigates intricate scenarios such as high-speed interchanges and nighttime driving.

Overview

Tesla’s FSD (Full Self-Driving) v14.x is undergoing its most extensive evaluation to date. Tesla owner David Moss is embarking on a cross-country drive across the United States without human assistance. His endeavor is more than just a journey; it marks a pivotal moment in the realm of self-driving.

The Future of Robotaxi

This expedition acts as a demonstration for Tesla’s future Robotaxi service, slated for launch in early 2026. Successfully completing this drive could be transformative, highlighting the software’s capability to traverse various roads and conditions.

Tracking the Path

Beginning in Hollywood, California, David’s journey extends approximately 4,500 kilometers to a beach along the Atlantic Ocean. The voyage is projected to last 45 to 50 hours, factoring in charging pauses.

FSD Cross-Country: The Hollywood Beginning

The journey commenced at the Tesla Diner in Los Angeles, where David activated the FSD software. The initial phase through the heavy traffic of Los Angeles set the groundwork for the challenges to come.

Update Highlights

Mojave Desert

The vehicle showcased its durability by maintaining lane precision amid the high temperatures and heat distortion of the Mojave Desert.

Arizona Border

Upon entering Arizona, the vehicle navigated intricate interchanges effortlessly, reflecting the software’s advancements.

New Mexico Mountain Passes

The FSD system adeptly managed steep inclines and twisting roads, displaying enhanced regenerative braking and decision-making abilities.

The Heart of Texas

While moving through Texas, the system skillfully handled high-speed restrictions and large semi-trucks, providing a more comfortable driving experience.

Night Vision and Human Signals

The upgraded vision encoder excelled in low-light situations, identifying road hazards and responding to human signals.

The Final Leg

As the journey approached its conclusion, the vehicle sustained its performance, leading to a flawless arrival at the Atlantic Ocean.

Implications for Australia

With the Full Self-Driving Capability now available in Australia, the successful completion of this expedition could signify the dawn of autonomous long-distance travel in the country. The technology stands on the cusp of revolutionizing our approach to road travel.

Conclusion

David Moss’s expedition using Tesla’s FSD v14 represents a significant advancement toward achieving complete autonomous driving. The journey not only underscores the software’s potential but also lays the groundwork for future innovations in autonomous travel, including in Australia.

Q: What is the importance of this expedition?

A:

The expedition provides a crucial evaluation of Tesla’s FSD capabilities, essential for the imminent Robotaxi service.

Q: What obstacles did the FSD system encounter?

A:

The system dealt with complex interchanges, high-speed traffic, night journeys, and real-time detours, demonstrating its resilience.

Q: What is the impact on Australia?

A:

It lays the foundation for autonomous driving in Australia, offering a preview of the future of road travel without human involvement.

Q: What advancements were identified in the FSD v14?

A:

Notable advancements encompass improved lane management, immediate obstacle detection, and enhanced night vision functionalities.

Q: What was the distance covered in the journey?

A:

The journey spanned roughly 4,500 kilometers and was estimated to last 45 to 50 hours, inclusive of charging intermissions.

Q: What does the future hold for self-driving technology?

A:

The success of this mission suggests that fully autonomous, long-distance travel is imminent, potentially transforming road transport.
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Suncorp Adopts Multi-Agent AI to Transform Business Operations


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Suncorp Harnesses Multi-Agent AI for Business Change

Suncorp employs multi-agent AI for business change

Overview

  • Suncorp Group is embracing a multi-agent AI approach to enhance its operational activities.
  • This AI strategy is aimed at developing a library of reusable elements to extend technology across brands.
  • The project seeks to boost customer service and streamline claims processing.
  • Suncorp utilizes Databricks’ technology suite for its multi-agent AI framework.
  • AI has already saved Suncorp significant work hours and enhanced case summary creation.

Suncorp’s AI Initiative

Suncorp Group, known for its prominent brands like AAMI, Gio Insurance, and API, is adopting a multi-agent strategy for its artificial intelligence (AI). By developing a library of reusable components, Suncorp intends to spread AI technology across its various brands, improving efficiency and customer satisfaction.

Collaboration with Databricks

At the recent Databricks 2025 Sydney event, Suncorp’s chief machine learning engineer, Touraj Varaee, highlighted the company’s AI progress. Suncorp is taking advantage of Databricks’ product suite, including the Lakehouse for data management and Unity Catalog for governance, to underpin its multi-agent AI framework.

Productivity and Innovation

The introduction of AI technologies has already provided significant advantages for Suncorp. The claims department has used AI to automatically generate over a million words in case summaries, saving more than 15,000 hours of labor for customer service personnel. This achievement emphasizes AI’s integral role in Suncorp’s operational framework.

Conclusion

Suncorp Group is at the forefront of a multi-agent AI strategy, utilizing Databricks technology to improve efficiency and scalability across its brands. This initiative has already resulted in considerable enhancements in customer service and claims processing, showcasing AI’s potential to transform business activities.

Q: What is Suncorp’s main objective with its AI initiative?

A: Suncorp aims to improve business operations through a multi-agent AI strategy, concentrating on developing a scalable library of reusable components to enhance efficiency and customer satisfaction across its brands.

Q: What advantages has AI provided Suncorp to date?

A: AI has conserved thousands of work hours for Suncorp and enhanced case summary generation efficiency, highlighting considerable operational gains.

Q: Which technology is Suncorp utilizing for its AI strategy?

A: Suncorp is leveraging Databricks’ suite, including the Lakehouse for data management and Unity Catalog for governance, to support its multi-agent AI structure.

Q: How does Suncorp intend to expand its AI applications?

A: Suncorp plans to establish a set of reusable components and services, enabling a cohesive and integrated method for deploying AI agents across different business scenarios.

Australians Affected Severely by Ticket Frauds: New Year’s Eve Events Experience Average Loss of A$432 per Individual


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Financial losses from ticket scams impacting Australians during New Year’s Eve events

Brief Overview

  • Average loss per incident of ticket scams is A$432.
  • One in five Australians miss out on events due to ticket fraud.
  • Gen Z and Millennials are the most exposed, with 15% losing A$750 or higher.
  • Social media serves as a major hub for ticket scams.
  • Only 6% of scam victims managed to avoid losses through secure payment options.
  • Official ticketing sites are the safest option for purchasing tickets.
  • Refrain from bank transfers to unknown individuals; utilize payment methods that offer buyer security.

Australians Experience Financial Setbacks Due to Ticket Scams

With New Year’s Eve approaching, Australians are keenly buying tickets for concerts, festivals, and sports events. Nevertheless, recent findings from PayPal Australia highlight that many fans are becoming victims of ticket scams, incurring an average loss of A$432 per event.

Growing Danger of Ticket Scams

One in five Australians claims to have missed events because of counterfeit or undelivered tickets. Alarmingly, nearly 10% have been scammed multiple times, suggesting the use of sophisticated scam techniques.

Younger Demographics at Higher Risk

Interestingly, younger Australians face greater risks of high-value losses. Approximately 15% of Gen Z and Millennial victims have indicated losses of A$750 or above, contrasting with older Australians who do not report such significant losses.

The Attraction of Discounted Tickets

The appeal of lower-priced tickets continues to pose a major threat. About 18% of Gen Z individuals are willing to risk buying tickets at questionable prices.

Deficiencies in Consumer Protection

Only 6% of scammed consumers managed to avert financial loss by utilizing payment methods that incorporate buyer protection. The majority of victims opted for payment options lacking any recourse, such as direct bank transfers.

Social Media: A Scamming Hotspot

Social media platforms are saturated with deceptive activities; yet half of Australians still buy tickets through these outlets. Scammers frequently employ fake digital ticket images or pose as genuine sellers to mislead buyers.

Ensuring Safety Through Secure Payment Methods

Utilizing secure payment solutions like PayPal, which provides Buyer Protection, can assist consumers in obtaining refunds if their tickets fail to arrive.

Official Platforms: The Best Option

As the demand for New Year’s Eve events skyrockets, Australians are encouraged to stick to approved ticketing platforms. The secondary market carries greater risks, with scammers establishing fake websites that imitate official sellers.

Reporting Unusual Offers

Reporting suspicious ticket offers helps safeguard the community. Over half of Australians would report a dubious offer, contributing to the prevention of others falling prey to scams.

Conclusion

As New Year’s Eve approaches, Australians face the dual thrill of attending events and the risk associated with ticket scams. With substantial financial losses reported, particularly among younger Australians, it is crucial to emphasize the use of secure payment methods and reliance on official ticket platforms to mitigate the risk of fraud.

Q&A

Q: What is the average financial loss for Australians affected by ticket scams?

A: The average financial loss per ticket scam incident is A$432.

Q: Which age group is at the highest risk of ticket scams?

A: Gen Z and Millennials are at the highest risk, with 15% reporting losses of A$750 or more.

Q: How can Australians safeguard themselves from ticket scams?

A: Australians can safeguard themselves by using secure payment methods such as PayPal, sticking to official ticketing platforms, and avoiding bank transfers to unknown individuals.

Q: What role does social media play in ticket scams?

A: Social media is a significant breeding ground for fraudulent ticket activities, with scammers employing fake digital ticket imagery and impersonating legitimate sellers.

Q: How effective are payment methods with buyer protection in preventing financial losses?

A: Payment options with buyer protection are quite effective, as merely 6% of scammed buyers utilizing these methods reported financial loss.

Q: What should consumers do if they come across a suspicious ticket offer?

A: Consumers should report any suspicious ticket offers to assist in protecting the broader community from scams.

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BHP’s Enduring Network Concentration Ready for AI Incorporation


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BHP: Pioneering with AI-Ready Infrastructure

Brief Overview

  • BHP is utilizing its strong network infrastructure for AI adoption.
  • Emphasis on low latency and high throughput applications is essential.
  • IT and OT networks are expected to merge.
  • Investments in resilience, observability, and security are crucial.
  • AI aims to improve decision-making in mining activities.

AI-Ready Infrastructure: A Long-Standing Commitment

BHP's strategic network focus readies it for AI adoption

BHP’s dedication to high-performance network infrastructure is setting the stage for the integration of artificial intelligence (AI) into its operations. At Cisco Live in Melbourne, Michelle Fernando, superintendent of operation technology (OT) networks, showcased BHP’s preparedness for AI, emphasizing the company’s focus on low latency and high throughput applications in demanding mining conditions.

Integration of IT and OT Networks

Fernando mentioned that AI is likely to facilitate the merging of IT and OT networks, which have historically functioned separately. This integration will demand secure solutions and shared infrastructure, potentially utilizing technologies like SD-WAN. Such convergence is anticipated to optimize operations and bolster security at mining sites.

Improving Decision-Making with AI

AI’s function in mining operations expands to delivering timely information for enhanced decision-making. Fernando pointed out the significance of AI in predictive maintenance and safety applications, which empower operators to make informed choices that improve operational efficiency and safety protocols.

Focusing on Network Resilience and Observability

BHP is planning future investments emphasizing network resilience and observability. Fernando articulated a vision for self-healing networks capable of automatically identifying and addressing issues, adjusting to shifting conditions such as varying terrains and weather. Improved visibility and observability are vital for anticipating and alleviating possible network disturbances.

Conclusion

BHP is strategically equipped to integrate AI into its mining operations, owing to its strong network infrastructure. By centering on the convergence of IT and OT networks and investing in advanced technologies, BHP aspires to boost efficiency, security, and decision-making processes in its operations.

Q&A

Q: What makes BHP’s network infrastructure suitable for AI?

A: BHP’s emphasis on low latency and high throughput applications in tough environments has resulted in a network framework that is well-prepared for AI adoption.

Q: How might AI influence the merging of IT and OT networks?

A: AI is anticipated to drive the integration of historically separate IT and OT networks, necessitating secure solutions and shared infrastructure for more efficient operations.

Q: What advantages does AI offer for mining operations?

A: AI delivers timely insights for predictive maintenance and safety, enabling operators to make knowledgeable decisions that enhance operational efficiency and safety protocols.

Q: What are BHP’s future investment goals for its network?

A: BHP intends to invest in network resilience and observability, aiming to create self-healing networks that can autonomously detect and rectify problems in changing conditions.

Q: How does BHP plan to improve network observability?

A: BHP seeks to enhance network visibility to foresee and mitigate potential interruptions, ensuring continuous and efficient mining operations.

Q: What technologies could be applied at BHP’s mining sites?

A: Technologies such as SD-WAN may be implemented to assist in converging IT and OT networks, improving security and operational efficiency.