The Internet has transformed our lives, from the way we work to the way we access entertainment. In many countries, it has become almost ubiquitous and soon a majority of the world’s population will be connected.

Along with Australia’s free trade agreements, the Internet has broken down barriers to entry, making it easier than ever before for our businesses to access new markets. As more of the world’s population becomes connected a far larger market becomes accessible to us. This is good news for our economy. It provides many more opportunities for businesses across every sector, from agriculture to tech start-ups, to grow sales.

The distinction between ‘the economy’ and ‘the digital economy’ has become increasingly blurred, to the point where it is almost impossible to separate the two. This has been driven by a number of factors including consumer demands, competitive markets and inventive entrepreneurs.

Today much of our lives are conducted online and the vast volumes of data stored and transmitted every day would have been unimaginable just a few decades ago. The way we access and consume information online has also changed. Less than a decade ago most of us accessed the Internet through a traditional PC. Fast-forward to today and most of us are connected 24/7 through our smart devices, forever transforming our lives in the process.

The Internet’s evolution is unique in that it has evolved with limited direct government involvement. That said, the government plays an important role in setting the policies that will drive the digital transformation of Australia’s economy.