The Digital Revolution: A Survival Guide

Mehr zum Buch

The Fourth Industrial Revolution, driven by digital disruption in the information and communications sectors, is reshaping business in Australia and worldwide, a transformation accelerated by the COVID-19 pandemic. We are witnessing the emergence of new platforms and markets, with AI increasingly replacing human expertise, fundamentally altering firms, work dynamics, and societal structures. These changes are affecting global economic growth and income distribution. Alarmingly, Australia's ICT sector represents about half of the OECD average share of GDP and is declining, ranking second-last, just above Mexico. Australia faces a critical decision: to become a tech innovator that generates economic profits and high-paying jobs or risk stagnation. Our current policy choices will determine whether we maintain our status as one of the wealthiest and happiest nations or continue to decline. In this context, Professor Simon Wilkie emphasizes the need for a policy revolution that goes beyond universal basic income to include tax policy, lifelong education, social inclusion, and the evolving nature of work. The Fourth Industrial Revolution could lead to sustained prosperity and greater equality, but achieving this requires a fundamental rethinking of the social contract. This work is part of a series by Monash University Publishing that addresses Australia’s contemporary challenges, aiming to inform and inspire public discourse on cri