What if Australia got cyber smart?


What if Australia got cyber smart?

A look at what’s over the horizon

In the sixth edition of our Building the Lucky Country series, we ask ourselves what’s over the horizon? A question frequently asked in an increasingly uncertain world, the answer is more difficult to predict. The key to moving forward is seeking better information about a wider range of possible futures. In What’s over the horizon? Recognising opportunity in uncertainty, we look at three plausible futures for Australia, including becoming cyber smart.

There are two sides to Australia’s economic story at the moment. On the one hand, we’re about to chalk up the longest recorded run without a recession that the world has ever seen. On the other hand, we’re suffering from the uncertainty and related caution around investment that has the whole world in its grip. 

In Building the Lucky Country #6, we address the issue of uncertainty, and how to move forward despite it. In What’s over the horizon? Recognising opportunity in uncertainty, we take a close look at three plausible futures for Australia and the impact these scenarios could have on multiple industries, sectors and locations.

What if Australia got cyber smart?

Scenario one: Australia gets cyber smart – acts with confidence, accelerates growth

New technologies and new markets bring new risks – notably cyber risk.  In response, we are all acting more cautiously. That’s understandable, because people are asking why they should spend big bucks on new ideas when those ideas can be more easily stolen than ever before.

But that view also comes with a cost. We are investing less in the future than we should be. That cost is built into our ‘most likely’ forecasts for Australia. But we can and should do better than that. And, if we do, that will generate a growth dividend for the nation.

This scenario is one that sees Australian businesses, government and families successfully deal with cyber risk. If we do that, we can invest more freely in digital innovation, and generate a growth dividend for the nation. Here we look at how likely it is that Australia can do this, and what the outcomes would be for the economy over a 20 year period.

Published: August 2018

What’s over the horizon?

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