This provides the slides from my keynote presentation at the 2025 Australasian Association of Philosophy conference. I discuss the effects and challenges produced by the impact agenda for the discipline of philosophy today.Philosophy in a time of impactUniversities have undergone seismic changes in the past several decades, both in Australia and internationally. Some of these changes continue to have significant implications for the discipline of philosophy and its place in the contemporary university. I focus on one of these, namely the impact agenda that emerged in the UK and Australia and has been embedded in research management policies and practice over the past 20 years. This agenda proffers an instrumental understanding of academic research, which is primarily valued for its capacity to contribute to economic growth, social cohesion and nation-building. Aligning with this agenda, an increasing number of philosophers are now involved in research programs that engage with industry organisations, communities and other stakeholders to address challenges faced by them. I refer to this as 'impact philosophy'.Through reflecting on impact philosophy, I argue that the broader discipline of philosophy faces a dilemma. On the one hand, if it underestimates and/or rejects the significance of the impact agenda, it may become irrelevant to the contemporary university; on the other hand, if it embraces the impact agenda, it may lose a sense of itself as a discipline. As a proponent of impact philosophy, I conclude by highlighting the need to clarify the 'rare and valuable' contribution that philosophy - as philosophy - can make within the time of impact.