Cameron Woodford, Founder and CEO of Appello Software, one of the leading software providers in Australia and Asia-Pacific, has welcomed the recent announcement that The Morrison Government is investing almost $1.2 billion in Australia’s digital future through the Digital Economy Strategy, as part of this year’s Federal Budget.
“The Digital Economy Strategy is key to securing Australia’s economic future and recovery from COVID-19.,” says Woodford. “This investment underpins the government’s commitment to protecting Australia’s current and future connectivity. Australians, organisations, and governments are increasingly relying on mobile connectivity to work, study and socialise, and to support advancement of smart cities and Internet of Things (IoT) solutions.”
The federal government in November 2018 unveiled the current digital transformation strategy, with former Minister for Human Services and Digital Transformation Michael Keenan at the time labelling the vision as “bold”.
Over $100 million to support digital skills for Australians.
“Students learn how to think critically, solve problems creatively, and articulate their thoughts in convincing ways when you cultivate imagination and teach digital skills to all of your students in every major. Students excel in school and in their professions because they have these skills,” says Woodford.
“Furthermore, tech companies, like all other businesses in the modern economy, are realising that digital skills are important for workers in the digital age. New workers must be multi-disciplined and possess both hard and soft skills now more than ever.”
$124.1 million in initiatives to build Australia’s capability in Artificial Intelligence.
To build Australia’s Artificial Intelligence capabilities, the $124.1 million will drive adoption of AI across the economy.
This includes a National Artificial Intelligence Centre led by CSIRO Data 61, supported by a network of AI and Digital Capability Centres.
AR and VR creates large simulation environments, which permits organisations and individuals the benefit of working, communicating and interacting with others without having to be in the same physical space.
These technologies are being used in many different industries, from business to education, from marketing to gaming and more. Market leaders like Apple, Facebook, Google, Amazon, and Microsoft have set the standard when it comes to the commercial use of AR technology, leading to massive growth of the technology in 2020.
Future-focused technologies such as virtual sports events, remote assistance, eye tracking and indoor navigation are also adopting VR technology and industry experts are of the opinion that the use of AR and VR could accelerate 5G networking.
“There are many innovations that surround AR and VR but the one that will most likely enable an incredible source of transformation in all sectors must be the immersive technologies,” explains Woodford.
$200.1 million investment to overhaul myGov, as well as a $301.8 million investment to enhance the My Health Record and an expansion of the digital identity system.
Additionally, about $10bn has been pledged to improve and upgrade the aged care systems over the next 4 years. Consequently, a major opportunity for health technology innovation which companies should take advantage of.
Helping SMEs build their digital capacity through a $12.7 million expansion of the Digital Solutions – Australian Small Business Advisory Service, and $15.3 million to drive business uptake of e-Invoicing.
“Organisations should adopt a digital first mindset and focus on creating suitable infrastructure and implementing necessary processes, tools and mobile applications needed to cater to the new digital reality,” says Woodford. “The world is currently being driven by digital buying and organisations should be adopting and embracing digital tools to improve the customer experience.”
$111.3 million to accelerate the rollout of the Consumer Data Right (CDR) in banking, energy, and telecommunications.
After frustrations over the slow progress in the banking sector, the $111.3 million boost will be welcomed. In addition, the government will work to ensure that the CDR is fully compatible with international schemes, as advised by a recent FinTech inquiry report.
This money will be used to establish rules and regulations for the energy industry, which will be introduced next year. Also to evaluate and nominate telecommunications companies and conduct a strategy review for a roadmap to expand the CDR to the rest of the economy.
More than $50 million to enhance cyber security in government, data centres and future telecommunications networks.
“Mobile application security is essential because organisations can work on developing and improving business with the assurance that applications are secure from potential vulnerabilities. Especially if you have a FinTech application,” says Woodford.
Interestingly, the recent New Business Council analysis showed that Australia could be $210 billion better off over the next 20 years if we speed up our shift to a digital economy.
The analysis, completed by EY for the BCA’s digital economy and telecommunications working group, found that with the right approach Australia can fulfil its ambition to be a digital leader by 2030.
In 2021, the key trends in mobile growth will revolve around creating a healthy and engaging user experience, with developers concentrating on enhancing customer service quality.
Appello enables businesses to adapt to digital transformation faster by giving them access to our teams who’re adopting the latest practices applied in technology. Companies don’t need to resource and hire employees for their projects. We already have people that can be compiled into their own flexible team without the hassle. It’s cost-effective and higher quality because of our experience in the industry.
Talk to us about what service model works best for you.