The United Kingdom's fastest-growing generative artificial intelligence (AI) company, AutogenAI, has made its debut in Australia, heralding a seismic shift in the landscape of government contract bidding. The move comes as a response to the 824,178 Federal government contracts in Australia, valued at $564.5 billion, that were awarded between July 2012 and June 2022.
AutogenAI has chosen the Nexus Centre innovation hub near Bond University, Gold Coast, as the location for its Australian headquarters. Emma Crichton, a veteran business development leader, will oversee local operations and spearhead the company's further expansion into the Asia-Pacific region.
The core offering of AutogenAI is its revolutionary AI-powered bid and proposal writing software. This tool aims to streamline the tendering process across a multitude of sectors including consultancy, housing, infrastructure, health, defense, mining, energy, construction, humanitarian, and human services. The company claims that their bespoke AI tool can "increase the productivity of bid teams by 342%," enabling businesses to concentrate on strategic aspects of bidding such as commercial approach, competitor analysis, and senior review cycles.
Sean Williams, founder and CEO of AutogenAI, emphasized the strategic importance of the Australian market. "Australia is a world leader in the procurement space - from the build of the RFT to the assessment of bids, Australian procurement methods are best practice for creating a long-term sustainable market," Williams said. He added that it was a "no-brainer for Australia to be our first international market."
Emma Crichton, CEO of AutogenAI Australia, also highlighted the timeliness of the company's launch. "It’s an advantageous time to be launching in Australia and the region. We know government procurement is under the microscope more than it ever has been and new suppliers are being considered," she said. Crichton believes that "AutogenAI can give these businesses a competitive edge, helping them to secure contracts and the government to get a better deal for the taxpayer."
Starting with a "small but mighty team of eight," AutogenAI Australia aims to quickly scale its operations. The company has set an ambitious target to acquire around 100 customers in the next 18 months, supported by satellite hubs in Sydney, Melbourne, and Perth. By 2025, AutogenAI plans to establish offices in Singapore and Hong Kong.
This international expansion is backed by a recent £23 million Series A funding from Blossom Capital, earmarked for further research and development.
AutogenAI's arrival in Australia signals not just a new chapter for the company but also a transformative moment for businesses vying for government contracts in the country.