Inquiry to Examine Tech's Role in Boosting Aussie Output

Following a referral by Treasurer the Hon Dr Jim Chalmers MP, the House of Representatives Standing Committee on Economics will open an inquiry into the use of technology to assist in improving Australian productivity.

Like many advanced economies, Australia has sought for decades to find the best way to boost productivity.

The development and application of new technology is often offered up as a pathway to improved productivity.

Despite extraordinary advances in digital technology, artificial intelligence, robotics, advanced manufacturing and communications, productivity growth across many advanced economies has stubbornly remained below expectations.

Committee Chair Ed Husic MP said "Lifting Australia's productivity is critical to growing the economy and improving Australian living standards well into the future.

"While we proudly point to our own tech trail-blazers or the "first-mover" eagerness of Australians to adopt and use new technology, that hasn't always translated into stronger productivity," he said.

"We want this inquiry to move beyond the "tech can improve productivity" mantra, to explore the specifics of how we can do that best.

"We'll examine how we can better develop and improve uptake of productive technologies across different economic sectors.

"This inquiry's focus is to look at a broad scope of technologies that could boost productivity in Australia, from robotics to biotechnology, quantum technologies to advanced manufacturing or information and communication technologies."

Mr Husic said the inquiry was not simply about inventing new technologies but ensuring Australia benefits from them.

"We also need to think carefully about Australia's sovereign capability. The nations that develop, commercialise and deploy critical technologies will be the nations that capture the greatest residual economic and productive value from them."

Committee Deputy Chair Simon Kennedy said "Australia cannot afford to sit on the sidelines of the AI and robotics revolution.

"These technologies have the potential to help solve the anaemic growth and productivity problems that have plagued our economy for years. We must grow these industries in Australia and ensure government policy enables innovation rather than inhibits it."

In the inquiry, the committee will examine matters related to:

The committee will release a discussion paper and open for submissions in the coming weeks. Those interested in contributing to the inquiry are encouraged to monitor the Committee's website