Digital Innovation: Australia’s $315B opportunity, 2018

In September 2018, CSIRO’s Data61 commissioned a report by AlphaBeta Advisors called ‘Digital Innovation: Australia’s $315b Opportunity’. A summary of the report is below:

Digital innovation can deliver $315 billion in gross economic value to Australia over the next decade, making it a critical ingredient in the nation's ongoing economic success.

The economic opportunity is great. However, there is a risk Australia will not fully realise it. New analysis shows that in the past, aside from some pockets of success, Australia has failed to capture the same economic value from digital innovation as other countries. The productivity gain from technology in our economy has been below that of our peers, and we have not managed to build our own digital industries at the same scale.

This report identifies eight strategic areas where Australia can succeed in creating new digital products or services. These opportunities are precision healthcare, digital agriculture, data-driven urban management, cyber-physical security, supply chain integrity, proactive government, legal informatics and smart exploration and production.