ADAPT Analyst Conversation
Having hosted 3,000 business and tech leaders we have unique insights. ADAPT Analysts review 2019 findings and local 2020 expectations for Australia & New Zealand under the theme of “Empowering Execution”.
There’s a lot of talk at the moment about how Australia is lagging. At ADAPT, we talk about the vision for the future, how do we need to prepare Australia, Australian organisations, our people, and our children best for the future that they’re going to face. I kind of, while I recognise that in many ways Australian organisations, and indeed some of the technology vendors themselves, are kind of lagging in their thinking and mindsets, and approaches to things, I would also say that we have seen a shift, right? Yes, there has been a big focus on mining, oil and gas, we saw the mining boom. Many said a lot of the money we made from that was squandered, we didn’t invest it effectively for that. But I think, also what we have seen is a shift away from some of those traditional industries, much more a focus around services, particularly in New South Wales for example.
We have tried to change our organisation’s thinking, developed our people, enabled new ways of doing business, and so on, from a services point of view.”
As you think about some of the conversations that you’re having with organisations, Aparna, and I guess your perspectives and views on the market in general. How do you feel in terms of when we talk about this lagging side of Australia? And really, this reliance on traditional industries when for all intents and purposes, we are seeing a shift I think.
Yes. I feel Australia historically has been innovative, and we have given a number of innovations to the world, that everyone is using today. And I think there is an essential ingredient there for us to transform and, you know, move towards this new momentum and new leap of growth. But a lot of it has to come from the services sector, today if you look at the GDP, the contribution of the services sector is 70% to the GDP.
And technology as a centrepiece plays a very pivotal role in making the services sector highly profitable, disruptive, and putting Australia on the world map in terms of a competing country when it comes to technology-led innovation.”
And for that, we need a certain level of change within the large organisations;, we are already seeing a shift in terms of new emerging companies growing up in terms of the startup ecosystem, and the government is taking initiatives in that area, but it is still the large corporations who need to make a massive shift, because we have been doing things the same way for the past 20 to 30 years, and you have been in the industry for a long time, you would agree. And those ways, those legacy systems, processes do not work today, and they are definitely not going to work tomorrow, and if we want to drive and you know, be prepared for 2030, then we definitely need to look at digital innovation and transformation as a mindset rather than a goal, or a process. So, that is my thinking, but of course, you have had so many interactions about digital transformation in the last few years within Australia, what is happening? What are people thinking about?