The recovery of the Australian economy is arguably the most pressing point that has arisen from the multitude of concerns brought about by the global pandemic. This presents an especially valid point for Australians, as we grapple with a number of interrelated issues. Among these being international border restrictions, and their resultant effects on the illustrious economy we've enjoyed as a global society. However, plenty would say that we've had a lot to be thankful for, as far as wearing the COVID-19 pandemic goes. With the way we've been able to keep local viral transmissions low among the reasons to consider ourselves lucky, it's rightfully time however, that we look to rebuilding the economic momentum of the pre-pandemic era.
While we wait as a nation for the gradual restarting of international economic inroads to Australia, it is perhaps the best time for our businesses and public agencies to look inwards at what more can be developed to bolster our domestic economic ability. This has been touted as much by the Prime Minister's office, through their recent media release that outlines a Digital Economy Strategy as part of this year's Federal Budget. With such a digital-focused strategy aimed at developing Australia's digital economic capabilities by 2030, what can we expect such a digital transformation to look like? How will Australia's digital economy of 2030 differ as compared to the one we know today?
Keeping in Step with A Global Digital Economy
For starters, it might help for businesses of all types and sizes to consider the economic digitisation that has already taken place. As mentioned within the Digital Economy Strategy media release, the pandemic has already seen the uptake of digital solutions such as business automation, contactless payments, contactless deliveries, and search engine optimization among the more commonplace applications sought by local business in Australia. These and others have helped plenty of enterprises cope with the changing demands, brought about either by the need for enhanced social distancing or a change in retail footfall due to shut borders. Similarly, this digitisation of businesses has also taken shape in the form of digital web app development, and more businesses enhancing their reach online via social media and by actively coveting digital strategy as part of their operations.
Safe to say, the federal government is most definitely thinking beyond just mobile apps, when it comes to committing a significant budget to the robust development of Australia's public and private sector's digital capabilities. This includes a significant investment of up to $124.1 million towards building Australian capability in Artificial Intelligence, as well as a further $100 million to support the digital upskilling of Australian workers with relevant digital credentials. As for helping local businesses, an additional budget of $15.3 million will also be set aside solely to drive business uptake of electronic invoicing.
What it All Means to Get Your Business Going Digital
The recent uptake of digital solutions is no doubt a product of what most of us can refer to as 'the pandemic economy'. But perhaps these conditions have necessitated the much needed upgrades required to help Australian businesses and organisations maximise their output, and keep in step with a global digital economy. Regardless of the challenge, it's going digital that has helped scores of businesses cope with the demands brought about by social distancing, so as to curb viral transmission.
However, it's perhaps time for us to think beyond just the transactionary requirement of doing good business, and to look forward to securing the much desired post-pandemic economic recovery through tailor-suited digital solutions that keep businesses doing a whole lot more while keeping their processes much simpler for years to come. If you've got an idea of how your organisation could benefit from bespoke software development, get in touch with our team to see how we can take your concepts to market efficiently.
