Australian Digital Innovation Outlook 2022: 5 Key Technology Trends

Australian Digital Innovation Outlook 2022: 5 Key Technology Trends

Business executives today must put agility first and be open to embracing new systems and technology in the fast-paced digital innovation age. What are the major Digital Innovation that business executives need to be aware of in order to remain on top of in 2022 and beyond?

In Australia, expenditure on technology goods and services is expected to surpass A$109 billion in 2022, according to a Gartner® forecast[1]. Gartner also emphasises that businesses must adopt business composability in order to survive disruption in 2022 and beyond [2]. Organizations can innovate and adapt fast to the changing environment of today, thanks to this attitude, these technology, and these operational skills. Gartner also predicts that investments in cloud, security, and artificial intelligence (AI) technologies will increase as they are considered as essential tools for fostering business composability.

5 Key Technology Trends

Quantum Technology The use of quantum technology will spread. According to a 2020 report[5] released by Australia’s national science agency CSIRO, the quantum technology industry there will produce US$4 billion in annual revenue and 16,000 jobs by 2040. It also has significant potential for the development of new drugs, secure communications, and methods of mineral exploration. By developing and keeping the proper personnel now, businesses can get ready for the inevitable expansion of quantum technology.

Another thing to think about is that research and development (R&D) are essential for the sector to grow to its maximum potential. Strong digital infrastructure will be necessary to support these initiatives because this would probably require cross-border and geographic coordination. What is the greatest way for digital leaders to aid the expansion of the quantum technology sector?

Cloud Based Technology  Leading the way are IT plans that prioritise the cloud. In Australia, cloud infrastructure and technologies are receiving a lot of attention and funding.

For instance, the Tech Council of Australia (TCA) is working to speed up cloud-first IT plans and promote digital transformation throughout Australia. The goal of TCA is to make Australia the prefered location for the establishment and expansion of cloud-first IT infrastructure and businesses. The company has pledged[3] to hire one million people in IT roles by 2025 in order to alleviate the severe labour shortages, and will be crucial to Australia’s recovery from the COVID-19 epidemic.

Additionally, Google announced[4] in November 2021 that it will spend A$1 billion (US$740 million) over the next five years in Australia, expanding its cloud computing capabilities, constructing a research centre, and supporting collaborations with local organisations. More than 28,000 new employment will be added in Australia as a result of Google’s Digital Future Initiative, which will add 6,000 new direct positions. It will also strengthen local digital economic infrastructure.

It is increasingly essential for enterprises to adopt cloud-first technology to avoid falling behind.

Sustainable IT When it comes to creating, utilising, and disposing of computer hardware and software, sustainable IT refers to a green approach.

Companies in the IT industry can—and need to—do more to persuade clients and end users to use and discard technology in a more sustainable way. Positively, businesses that make a determined effort to “green” their goods and services will draw in a wider range of environmentally concerned consumers.

If the world wants to become carbon neutral by 2050, businesses must also speed up their own efforts to minimize their carbon footprints. In order to ‘green’ the grid and contribute to its overall sustainability, Equinix has committed to using 100 percent renewable energy and achieving climate neutrality across Scope 1 and 2 emissions by 2030. This will help other companies use the ‘greener’ grid and will have a cascading effect on the environment.

Infrastructure needs to be addressed with data and digital innovation tools.  Building Australia[7], As Australia’s population continues to increase, it is imperative that the infrastructure sector be improved. Over the past three decades, it has grown 25% less productive than industries like mining, manufacturing, retail, and transportation. Once more, invention is a key component of the answer.

By allowing components to be shared between projects and enabling governments to precisely model how infrastructure will function in the future while taking sustainability, climate, resilience, and public safety factors into account, an effective digital engineering environment would make it possible to share components between projects. Future-proof data and digital technologies will be required, notably digital infrastructure designed for interconnection, speed, and flexibility. More collaborative infrastructure delivery methods will also be required.

The true difficulty will be creating both hard and soft infrastructure to support a changing workforce and economy.

With huge investments being made into its infrastructure and innovation sector at all levels by governments, business, and organisations, Australia is experiencing an exciting period. With the pace of technology development accelerating, environmental concerns increasing, and consumer preferences evolving, the next year offers firms considerable potential in a number of sectors.

Explore the newest insights into Australia’s expanding innovation business by checking out our new Equinix Australia Digital First Series. Hear from industry professionals on the state of the game for Australia and more. We’re launching our webinar, Digital Innovation Outlook and Trends in 2022, delivered by former CNBC anchor and innovation enthusiast Oriel Morrison in April as the first instalment of our leadership series on digital innovation.

In demand are digital innovation solutions for Smart Cities.  Australian governments and territories are concentrating on assisting their metro and rural cities in accommodating the development as Australia’s population continues to climb. A crucial part of this is played by digital innovation.

For instance, New South Wales recently announced[6] a $40 million investment in a spatial digital twin that would aid in the state’s urban planning and development. In order to provide insights for planners, designers, and decision-makers at all levels of government, the digital twin combines data sources from various government agencies, including those related to spatial, natural resources, and planning. It also integrates these data sources with real-time sensor feeds.

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