Australian businesses are beginning to adopt Industry 4.0 technologies, yet cyber threats remain an impediment. Innes Willox explains.
Australian industry is currently in a state of transition to the Fourth Industrial Revolution – or Industry 4.0. It is fair to say that substantial progress in embracing Industry 4.0 has so far been confined to a relatively small number of leading firms – both multinational and domestically-based. Embracing Industry 4.0 has stretched the gap between these leaders and the majority of businesses.
There are certainly public policy actions that can help respond to these challenges, especially to develop our businesses – small to large, in new or traditional sectors – and to equip them to raise their horizons and competitiveness. In a soon-to-be-released Ai Group report, we will outline key policy priority areas where government and industry can work together to tackle these types of challenges.