How Businesses Can Compete In The Global Digital Economy

In order to ensure that Australia will be able to compete in the global digital economy, businesses are expected to spend more than $65 billion in technology next year. According to market research company Forrester the three top priorities of technology investment include cloud computing, artificial intelligence (AI) and automation.

Australia Chamber of Commerce and Industry CEO James Pearson said that the Australian business community is facing more pressure to use technology to be able to compete in the digital economy and better manage technological disruptions. A world-class technology infrastructure can engage appropriately in the globalized digital economy.

However, the shift to digital puts security among the critical expenses particularly since businesses have to face increased local and international threats. According to research firm Gartner, Australia’s cyber security spending will reach $3.8 billion this year because of the increase in government regulations, changes in business buying mindset, intense awareness of emerging threats and the transformation to digital business strategy.

Rob McKie of Pitcher Partners says that business must always be in a constant state of alertness because they may be the next target. Unfortunately, most businesses only respond to the risk when they are already hit. Businesses have to learn from the mistakes of others otherwise they can be completely wiped out by an attack.

Privacy and security will continue to be among the major challenges and access to information will be tightly regulated. Protection of data will remain to be a hot issue. Firms have to talk to their clients regarding their software systems so that they can work harmoniously and efficiently.

Over the past years, accounting firms and big businesses have moved to the cloud because they have realized that the ability to make decisions is usually based on real time data. Businesses gain a significant edge over their competitors.

Homes also need security but not in the form of software. Homes require security screens in Perth that minimizes the likelihood of forced entry. The good thing with security screens is their effortless elegance that is only surpassed by their enviable strength. Homeowners will continue to have an interrupted view of the environment while maximizing security.

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