Although a majority of Australian business owners are very aware that their businesses and industries will greatly change in the next two decades because of advances in technology, it is unclear whether or not those businesses are prepared to make the leap to new technology over time. Many of these business owners are already struggling to keep up and adapt to the technology of the previous two decades. Many businesses may see their services automated and performed with robots. These owners will likely need to learn new skills, which may become easier with technology.
- 40% of local buisness operators believe their buisness will be changed by technology in 10 years
- The percentages of buisness in the following catagories who believe they will be changed are :
-53% Finance and Insurance
-44% Manufacturing and wholesale
-43% Retail and hospitality
- This will be due to changes in connectivity, cloud computing, robitics and machine learning.
“Although well used to the notion of disruption, Australian businesses may not be prepared to face the total transformation of business coming in the next two decades, according to the latest MYOB Future of Business Report The Age of Change.”