Tech and Internet Changing Australia in New Ways

Technology and the Internet are changing Australia as the digital revolution has given birth to innovative business models and products that modern consumers have learned to love and depend on. Trendsetters in the digital ecosystem and disruptive tech trends are transforming the way entrepreneurs do business.
As featured in Mashable, a recent study entitled “Accenture Technology Vision 2016: An Australian Perspective” highlights that Australia not only embraces new technology, but also actively weaves innovation, technology, and business processes into a broad digital fabric that extends to their customers, partners, and employees.
The Accenture Technology Vision 2016 report reveals five trends behind the acceleration of technology in Australia.
 

1. Intelligent Automation

Modern day intelligent automation, powered by Artificial Intelligence (AI), represents a shift in technology and the way people collaborate with machines. These AI machines are trained instead of programmed, learning through association and pattern recognition, rather than hard-coded instructions. For example, automated farming systems now boost crop yields, and intelligent transport systems ease congestion. According to the said report, Australian companies are quick to acknowledge this trend with 42% agreeing that AI can revolutionise their industry.
 

2. Liquid Workforce

As technology transforms skill set demands across all departments, the strongest demand will be for flexible, multi-skilled employees with technical proficiency and the ability to adapt quickly to change. Companies that develop a people-first approach and invest in their employees, ensuring they are equipped with the right skills will prosper in the digital economy.
The modern quality workforce is expected to be more fluid as Australian executives expect internal permanent positions to comprise only 51% of their staff, in line with the global figure of 56%. The workforce of the future will be structured around projects instead of job functions.
 

3. Platform Economy

Digital platforms continue to transform Australia’s business landscape. The report shows that 43% of Australian executives are now accepting that a platform-based business model is critical to their company’s success, which is in line with their global counterparts.
 

4. Predictable Disruption

The survey shows 46% of Aussie executives believe new paradigms are emerging due to the rise of innovative platforms. The rise of the digital culture and technology disruptions are set to continue at a rapid pace. By 2020, Australia’s digital economy is expected to contribute to one third of GDP, or up to US$482 billion. To remain competitive, businesses must leverage the digital platform and accelerate adoption of Intelligent Automation to automate processes and drive innovation.
 

5. Digital Trust

Accenture said Australian executives believe the technology change will accelerate even further and significantly higher than the global figure of 28%, which shows the growing  trust on the digital market in the country. Disruptive technologies are evolving from radical concepts into successful innovations, providing local businesses the opportunity to reduce costs, boost efficiency, attract talent, and thrive in a competitive global landscape.
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