25.07.2019CSIRO Creating Australia’s data-driven future

The world around us is changing, fast. Every sector of the global economy has been re-defined by digital disruption. Australia, like most countries, is witnessing unprecedented structural changes in its economy, industries and labour markets. This new global and local reality is often referred to as “The Fourth Industrial Revolution” or “The Data Economy.” It has created an urgent national imperative to diversify Australia from an industrial-era, resources economy to a sustainable and globally relevant knowledge-based services economy.

Whatever the label, the signs of the emerging data economy are everywhere and its present and ongoing impact still little understood by traditional business leaders, organisations and policymakers.

Many commentators and economists claim data are to this century what oil was to the last one: a driver of growth and change. But data is unlike any previous resource for it is extracted, refined, valued, bought and sold in different ways creating new infrastructure, new monopolies and new politics.

This data-driven world has ushered-in a globally competitive market for new networked, distributed services and knowledge-based work.

As every industry becomes more data-driven technologies such as machine learning and artificial intelligence (AI) will become central and emerge as essential means for competitive advantage.

AI is estimated to be worth AU$22.17 trillion to the global economy by 2030 and represents a significant opportunity to boost productivity and improve the national economy through its strong potential to enable the industry to make better products, deliver better services, faster, cheaper and safer.

AI also holds the potential to help solve some of Australia’s most important national challenges relating to energy, health, ageing, safety, security, climate and the environment. But how we chose to enable AI today will be critical in unlocking new societal and environmental value for our country.

These topics and many others will be explored at D61+LIVE – the annual data science and technology conference hosted by CSIRO’s Data61. Taking place on 2-3 October at Carriageworks in Sydney,  executives from some of Australia’s top companies, government agencies and academia will come together to examine the latest data science and technology that is shaping our industries, experiences and society. Registration for this free event is open now. https://d61live.csiro.au/

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