One of the world’s largest life insurance companies is expanding its footprint in Victoria with an investment project which will create more than 100 jobs over three years and support community wellbeing.

AIA Australia will establish the AIA Innovation Lab, enabling it to harness Melbourne’s capabilities in artificial intelligence, data science and machine learning, as well as research on wellbeing and mental health.

The company will use the Lab to execute research and development activities, and partner with Victorian universities and research organisations, using cutting edge technologies to undertake projects that boost knowledge of health prevention tools, community health, wellbeing promotion and intervention.

Damien Mu, AIA Australia and New Zealand CEO and Managing Director, said “we’re honoured to have the support of the Victorian Government and look forward to the opportunities ahead – including partnerships with universities, research and healthtech organisations in Victoria – which will enable us to make a difference in people’s lives.”

The investment by AIA Australia will boost Victoria’s thriving financial and technology sectors that collectively employ more than 260,000 people and generate $76 billion each year for the state’s economy.

Melbourne is Australia’s leading tech city, as confirmed by the Savills Research Tech Cities in Motion global report released earlier this year.

Recently, Melbourne was also ranked Australia’s most innovative city – and one of the most innovative cities in the Asia Pacific – in the 2thinknow’s Innovation Cities Index for 2019.

For more information about Australia’s leading tech city, visit http://www.invest.vic.gov.au/opportunities/technology/melbourne-s-strengths-in-technology

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