A five-year productivity study on digital technology and data in Australia found that Australia could fall behind in the race against technological change.
In its latest interim report, the Productivity Commission found that poor internet, lack of skills, benefits, security concerns, costs, and lack of awareness and uncertainty about maintaining legacy systems are the biggest obstacles for Australian businesses to face new challenges. They say it prevents people from adopting technology.
According to the report, Australia is doing well in terms of internet connectivity and data volume, but lags behind other countries in other advanced indicators.
“Australia has relatively slow internet speeds and business use of data-driven technologies such as artificial intelligence (AI) and analytics has lagged behind its adoption in other countries,” the commission found.
According to speed test data from Ookla, Australia’s internet speeds are not very competitive globally, ranking 18th for median mobile internet download speeds.th 68.35 Mbps worldwide, with a median fixed broadband download speed ranking of 61.st at 50.89 Mbps.
Among agricultural businesses, inadequate internet speed and geographic location were the most commonly cited factors limiting further technology adoption.
In light of this issue, the report recommends that more digital infrastructure should be developed, especially in rural and remote Australia, to improve access to low-cost, reliable internet for local businesses and workers. It says you need a structure.
The federal government has invested in the region’s digital infrastructure, but the report found that current funding lacks transparency and accountability.
Adoption of technology in Australian businesses
According to the report, local businesses are more likely to adopt digital and data tools based on characteristics such as size and industry, with adoption rates varying across sectors.
Today, more than 60% of Australian companies in knowledge services, information media and telecommunications are embracing cloud technology, which is expected to usher in the next wave of change.
At the same time, we found that industries with higher adoption of cloud technology are adopting artificial intelligence faster.
Separately, manufacturing and supply chain logistics businesses have increased their adoption of radio frequency identification and electronic data interchange tools.
However, the report notes that many businesses underestimate the potential and cost of online threats and may not be investing enough in cybersecurity.
“Digital technologies and data will continue to shape global economic growth and social change for years to come,” said Commissioner Stephen King.
“Whether the productivity dividends offered by these opportunities can be fully realized will depend on how effectively governments, businesses and individuals can recognize and safely exploit these changes for the benefit of Australia. It’s hanging.”
follow
Alfred Bui is an Australian reporter based in Melbourne, focusing on local and business news. He is a former small business owner and holds his two master’s degrees in business and business law. Please contact alfred.bui@epochtimes.com.au.
.
