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25 November 1998 |
Ref 98/273 |
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Australia is missing a glorious opportunity to become a major player in the global information economy, Victorian parliamentarians were told today.
Dr Phil McCrea, CSIRO, told a Science Briefing that many Australian organisations do not yet realise the potential of the Information Economy.
"Research indicates that the total value of goods and services traded between companies over the Internet will reach US$327 billion in the year 2002," Dr McCrea says.
"While some Australian banks have introduced Internet-based home banking services, they are lagging behind their American counterparts in recognising that they form an integral part of the global information economy," Dr McCrea told the parliamentarians.
"Unlike their US counterparts, most Australian banks have been slow to accept credit card payments over the Internet, particularly for small to medium businesses. Furthermore, as proof of the globalisation of the economy, at least one US bank has made inroads into corporate Australia. Chase Manhattan Bank is handling the accounts payables of a major Australian retailer by sending them over the Internet to the US for processing.
"We are now living in what is generally described as an Information Era, in which the economic strength of an organisation or country is characterised by how much information it owns, controls, or has access to so-called Information Capital.
Despite the slowness of corporate Australia to recognise the potential of Internet commerce, Australia is indeed well placed to be successful in the Information economy with:
- high penetration of PCs per head in both business and home
- high Internet usage rates
- well educated population
- technologically advanced telecommunications infrastructure
- a history of adopting new technology quickly
"Hopefully we will have a change of corporate mindset in time to enable Australia to become lucky once again, and to ride the crest of the global Information Economy wave," Dr McCrea says.
Judith King of the Australian Coalition of Service Industries (ACSI), told the Briefing that business, governments and consumers should have online economy issues at the top of their agendas.
"Individual businesses should ask challenging questions about how the online economy could change their business, act on the answers and make the commitment to get online," she says.
"Australian businesses must work cooperatively to create a favourable online environment and build on this environment with action. This action should include the creation of industry sector and national visions, to provide leadership and set ambitious aspirations.
"Australian Governments - Federal, State and Local - must actively support the national vision for the online economy, and create regulatory and taxation environments that encourage the development of a thriving online economy.
"Australia, more than any other nation, has much to gain from taking the lead in the online economy. It is a major opportunity to overcome the limitations of our geographic isolation and small local market," Ms King says.
More information:
Dr Philip McCrea 02 9325 3205
Ms Judith King 03 9663 2996
(Australia's largest scientific research organisation)
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