Australia - Digital Economy - Sector and Industry Transformations

Synopsis

The digital economy began to take hold a decade or so ago, and some organisations were fast to react to it, while others were slow. The naysayers saw the impact of the internet on their business as a fad that would soon fade away; others, such as Google, Amazon, Facebook and Yahoo, saw it as the new business model.

A decade later it is clear who was right and who was wrong. The digital economy is here to stay and those who fail to participate will become the road-kill on this superhighway. One of the real threats to traditional business is that those who are embracing the digital economy have a real chance to grow their business faster and thus widen the gap between the winners and the losers.

The government sector is also at a crossroads here. Because of their large share in the economy and in national ICT spending governments can drive transformation and innovation in the national economy. Furthermore, like the business market, governments have to face the reality of transformation. For example, the healthcare sector is rapidly approaching a fiscal cliff. Costs attached to healthcare have grown to a completely unsustainable level.

Only through digital transformation can we afford to maintain our hard-earned lifestyle.

All of these issues are discussed and analysed in detail in this report.

Table of Contents

  • 1. Synopsis
  • 2. Introduction
  • 3. How to better balance the Federal Budget?
    • 3.1 May Budget 2015
  • 4. The digital economy – what is at stake?
    • 4.1 The size of the digital economy
    • 4.2 The effects of the digital economy are all around us.
    • 4.3 Commercial Sectors
    • 4.4 Global competition
    • 4.5 Healthcare
    • 4.6 Education
    • 4.7 ICT Investments needed
  • 5. Lack of vision – politicians absorbed by costs of ageing economic models
  • 6. Government misses out on developing a smart economy
  • 7. Australia’s two-tiered economy
  • 8. Australia’s digital transformation is underway
    • 8.1 National Broadband Infrastructure
    • 8.2 Cloud computing, Big Data, M2M
    • 8.3 The need for digital productivity
  • 9. Developed economies not ready for an ICT-driven recovery
  • 10. ICT tools can provide $8 billion of annual savings
  • 11. Transformation based on smart infrastructure
  • 12. Selected Industry and sector transformations
    • 12.1 Government Transformation
    • 12.2 Digital Technology transforming the mining sector
    • 12.3 Transformation of the energy market
    • 12.4 Digital economy transforming the banking industry
    • 12.5 Omni-channel changing Retailing
    • 12.6 Book Industry
    • 12.7 The transformation of the disability sector
  • 13. Statistical information and economic benefits
    • 13.1 The impact on the economy
    • 13.2 The thousands of unreported benefits of high-speed infrastructure
    • 13.3 Digital Australia – statistical findings
  • 14. Other Reports
  • Exhibit 1 - How does broadband relate to economic development?
  • Exhibit 2 - Key ICT business tools

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