Australia stands at a pivotal juncture in shaping its digital landscape, yet a decisive plan is essential to harness the benefits of emerging technologies, a top business leader has cautioned.
In a compelling address at the National Press Club on Wednesday, Telstra’s CEO Vicki Brady emphasized the remarkable prospects Australia holds with advancements like artificial intelligence. However, she urged for immediate and substantial investments to prevent falling behind nations that are already heavily investing in their digital futures.
“We are presented with a fleeting opportunity to strategically position ourselves as technology progresses,” she stated. “But that window is swiftly diminishing.”
Around the globe, nations are recognizing the imperative need for investment, particularly as the United States pours significant resources into the “global race to harness AI.”
Ms. Brady identified a pivotal challenge for Australia: the lack of robust infrastructure, rather than a shortage of research.
“Discussions frequently revolve around the technology, data centers, and energy resources required to support Australia’s digital future,” she explained. “However, the pivotal topic rarely highlighted is the essential digital infrastructure required to unify these components. Without connectivity, none of it will function effectively.”
She cautioned that neglecting this aspect could adversely impact Australia’s living standards.
**Addressing Three Critical Challenges**
According to the Telstra leader, it is crucial for the federal government to establish a solid digital infrastructure framework, equip the workforce with necessary skills, and create regulatory environments that balance innovation with risk management.
This call for comprehensive planning includes developing a national digital infrastructure blueprint that encompasses aerial, terrestrial, and underwater connectivity.
“A cohesive plan that the telecommunications sector can unite behind and collaborate with other sectors, like energy, to bring to fruition,” she indicated.
Ms. Brady expressed optimism regarding the dialogue initiated around action and the acknowledgment of how vital digital infrastructure is in this evolving landscape. “Now we must expand upon that foundation,” she urged.
Additionally, she highlighted the necessity of enhancing the skill sets of Australians as the reliance on digital services intensifies.
“This is about ensuring Australians possess the appropriate skills amid the AI transformation of our economy and workforce, instilling trust in the responsible deployment of technologies so that everyone can engage meaningfully,” she articulated.
While she recognized the vast opportunities presented by AI, she characterized the journey as akin to navigating uncharted waters, necessitating a collective vision to maximize the potential of this moment.
“The most effective way for us to maintain public safety and instill confidence while fostering innovation is through deep collaboration,” she stated.
Lastly, Ms. Brady urged the government to establish regulatory frameworks that successfully balance risk against growth within the sector.
“Regulation is crucial for our economy and industry … Yet, as Treasurer Chalmers has pointed out, we need to streamline the complexities.
“It’s imperative to devise a more strategic approach that bolsters investment while adhering to our national vision. We are eager to partner with governments and regulators in this endeavor.”
Priyam Gera