Australia’s digital economy is now worth $79 billion or 5.1 per cent of GDP, making it larger than traditional industry sectors such as agriculture, retail and transport, according to a new Deloitte report.
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Australian enterprises are lagging behind in the use of digital technologies, resulting in stalled economic growth, new research reveals.
The world is on the cusp of another “digital tsunami”, according to Steven Burdon, professor of strategic management and technology at the University of Technology in Sydney.
The role of chief digital officer (CDO) is set to invade Australian organisations and could well be at the expense of the CIO, a new report claims.
Organisations looking to successfully deal with the next generation of digital-first customers must quickly embrace new technologies and be willing to innovate products and services in an agile fashion if they’re to retain competitive advantage.
A recent Boston Consulting Group (BCG) study estimated that, by 2016, the digital economy will contribute 5.5 per cent or $US4.2 trillion dollars to the economies of the G20 countries (from $US2.3 trillion in 2010). The digital economy contributed $US44bn (3.3 per cent of GDP) to the overall Australian economy in 2010 and is expected to grow to $US67bn by 2016.
The Federal Government has called on industry to grow its online presence and e–commerce facilities to help boost Australia’s digital economy.
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