Publisher Len Rust
Following the publication of the recent Australian Industry Group/Deloitte National CEO report – Business Investment in New Technologies over the past three years, Heather Ridout Ai Group’s CEO commented “There is a range of motivations for investments in new technologies to improve productivity and data management and the development of a range of improved products and services that stood out as key factors”.
The report also confirmed the importance of government programs to help small-to-medium businesses to better understand how they can take advantages of the opportunities to be provided by the forthcoming NBN.
Over the last few years the ICT industry has seen a swing from a vendor-controlled environment to one that is being increasingly controlled by clients. ICT will continue to underpin the competitiveness of our economy, the efficiency of our public service and our quality of life. Our task is to make sure Australia is well equipped to harness the potential of new technologies like the Internet and Mobile devices.
ICT research and innovation must also be integrated into many policy areas such as health, transport, mining, manufacturing, energy and financial services plus a greater collaboration between users and vendors. Big Data, Cloud computing and Social Media will all have a greater impact on every facet in the running of their businesses.
Considering the spread of ICT now and into the future our governments both Federal and State need to do more to support the diffusion of the new technologies. Policies specific to ICT diffusion will not on their own lead to stronger performance but they should be part of a comprehensive set of actions to create the right conditions for growth and local innovation.
Matching the skills requirements for future “technology waves” will also require considerable investment. For ICT to be developed and used effectively and for the benefits of the NBN to materialise the right skills and competencies must be in place. Having a good supply of qualified personnel is important but education policies also need to be supplemented with actions to foster lifelong learning.
A precondition for success in the current period is that companies will need to achieve and maintain a robust understanding of how the transformations will impact their industries as well as allied industries. A strong appreciation of their own core competencies and how these can be leveraged to take advantage of emerging technologies and profitable innovation will be critical. Also there is the necessity to have a committed and aligned leadership with a clear strategy to create a sustainable competitive advantage so that the enterprise can move swiftly as circumstances demand them to capitalize on new opportunities.
—Len Rust, rustoz@bigpond.com
