New technologies and new ways of working are transforming the nature of work and—over time—reshaping the Australian and global economies. While the pace and magnitude of change varies significantly from industry to industry (and often from player to player in those industries), in each sector we looked at in this report, we saw fundamental changes underway. These changes are in the way organizations engage with their customers, the way they develop and deliver products and services, as well as how they plan and shape their future workforces. We see a window of opportunity for Australian consumers, businesses, and governments alike to profit from the wave of change being driven by this “Fourth Industrial Revolution".
Capturing the full potential of digital and analytics will require organisations to commit to a journey of reinvention: from the capabilities they hire and develop, to the ways they think and work, to the investments they commit to. Today, Australia has pockets of impressive digital performance, ranging from world-leading mobile banking engagement, to world-leading mine automation deployment. Translating these pockets of best practice into digital maturity across entire industries will require vision and commitment from both the public and private sectors. Governments need to embrace digital in their own operations (both policy development and service delivery), while fostering digital innovation in the Australian economy by investing in infrastructure, the Australian workforce and R&D. Companies need to set a strategic ambition for digital, challenge orthodoxies in the way they work, invest in building digital capabilities while focusing on ROI, and shift cultures and ways of working.