Australia's digital future is set to transform a range of industries and the way we work, according a report commissioned by IBM.
A Snapshot of Australia's Digital Future 2050 conducted by IBISWorld showed industries that are transforming quickly as a result of access to high speed broadband include the retail sector, education and public administration, which would benefit from superfast broadband, predictive analytics and advanced software programs to provide smarter emergency services. Whereas industries such as photographic film processing, software publishing to disc, newspaper, book and magazine publishing could risk demise unless they re-invent themselves, according to the report.
It also indicated high speed broadband will contribute $1 trillion in revenue in 2050, which is about eight times higher than the $131 billion it currently generates.
It also suggested that Australian consumers will require a monthly data allowance of about 200GB in 2020 and potentially 5TB in 2030. The report also pointed out that teleworking will continue to be a key trend with about one in four people working partially from home. This will also contribute towards driving the use of superfast broadband and technology services within the home. IBISWorld founder and chairman, Phil Ruthven, indicated that Australian households would allocate about 40 per cent of their mobile spend on telecommunications.
Ruthven said access to information using high speed broadband will create more open dialogue between the government and community due to the use of social media tools.
"Progress is being driven by the convergence of cloud computing, analytics, learning systems and ubiquitous high-speed broadband in fixed, mobile and wireless form," Ruthven said. "These technologies will lead us to a point where a large percentage of Australia's products and services, and work itself, will be strictly digital."