Vantari VR reduces medical error by 40pc – Wollongong University research

MEDICAL VIRTUAL REALITY company, Vantari VR, has been found to help reduce medical errors by an astounding 40 percent.

In tests conducted in partnership with the University of Wollongong (UOW), researchers also found Vantari VR training software had helped student clinicians to improve performance by 32 percent and adherence to safety and hygiene by 39 percent.

Through its unique ‘flight-simulator’-style technology, Vantari delivers medical training via a VR headset and laptop, allowing clinicians to perform and perfect clinical procedures. 

Vantari VR’s platform delivers procedural training to doctors, nurses and medical students, with a mission to eliminate medical error, and provide standardisation in the delivery of training across the board.

The partnership with UOW, which set out to test and validate Vantari VR’s solution, observed 25 students using the VR software, against a control group of 19 students not receiving the VR training. The results highlighted the potential for significantly improved patient outcomes as well as cost savings for hospitals. 

An expert in using technologies like VR to overcome barriers of the real world, Shiva Pedram from the University of Wollongong’s SMART Infrastructure Facility said the university was “thrilled to see virtual reality used in such a meaningful way” with measurable impact aligned to the motor skills theory of learning.

“Currently, students are using mannequins to do practice procedures; this comes with a number of logistical limitations and it’s very centralised,” Dr Pedram said.

“Vantari is now offering students decentralised training, meaning students can receive thorough training regardless of time or location. The most important thing is that students can take their time with these procedures, they can reflect, revisit and repeat until they reach a point where they feel comfortable and confident to perform the same, or similar, procedures in real life.”

VR LEARNING ENVIRONMENT IS SAFER

The partnership between Vantari and UOW allowed medical students to practise procedures in a safe VR environment, commencing with arterial blood gas (ABG) collection. A fundamental procedure done daily in hospitals across Australia and globally, it remains an essential skill for all medical students, doctors and in some contexts, other healthcare practitioners such as nurses.

The modules cover core competencies as well as more complex critical care procedures, and users learn best practice by following steps in VR which are recommended by college guidelines. These provide a foundation to use Vantari’s platform as both a digital logbook and, in the future, an accreditation platform.

As the pandemic continues to cause issues in Australia, the need to future-proof education and training has never been more important, Dr Pedram said. The commercial pilot study was ably supported by the UOW research and clinical teams and the Graduate School of Medicine. Researchers clinically validated the software and are set to publish the full research paper within weeks. 

Research shows that 28-40 percent of novice residents were not confident in performing a major surgical procedure. The difference between novices and experts is generally in their perception, decision making, actions and attention. With VR allowing the provision of continuous training to complement real-world experience, this gap can be reduced; the results from the recent research piece offer a testament to the fantastic outcomes available.

LIVING UP TO ITS VIRTUAL PROMISE

Vantari VR co-founder and co-CEO Nishanth Krishnananthan said the results from the research program provided fantastic affirmation that the software was delivering on its objectives.

“The results have highlighted just how much time and money the training software is set to save hospitals and universities, and we are really excited by the improved confidence in the medical and healthcare industries that we can offer to patients, as they can expect better outcomes,” he said.

The Vantari ABG module is hosted on Vantari Connect – the cloud-hosted Vantari platform which hosts a library of medical procedures for training. Observed students were immersed in a medical environment with a virtual patient, virtual instruments and a step-by-step guide of written and narrated instructions on how to perform the procedure.

Vantari will utilise the ABG VR trainer to unlock a number of foundational procedures with a view to integrating more broadly into the medical curriculum both at UOW and nationally, with potential to extend the training beyond practitioners.

“As technology like this becomes more affordable and accessible, we will be able to provide more experiences,” Dr Shiva said.

“Ideally, the VR training will extend beyond students and clinicians and we will be able to look at how we can expose the family, friends and carers of the patient to the pain or challenges they’re experiencing, and that awareness and empathy will help with the support process. The reach of the educational benefits is limitless.”

Looking ahead, Vantari VR is aiming to secure funding as part of its current capital raise. The raise comes as Vantari VR secured the MVP Grant in 2018, the AC Grant in 2019, and more recently, the Epic Games MegaGrant last year.

Vantari VR was launched in 2017 and is now operating in four hospitals across Australia. Vantari VR’s stated aim is to help produce the best doctors and the best medical outcomes by reducing medical error and in turn, saving patients’ lives.

www.vantarivr.com

ends

Senate report provides compelling roadmap for Australia to lead digital and crypto asset industry

THE far-reaching recommendations of the Senate inquiry into the regulation of crypto assets present an opportunity to attract jobs, investment and innovation to Australia, according to RMIT University.

Parliament should adopt them as soon as possible, according to associate professor Chris Berg, co-founder of the Blockchain Innovation Hub at RMIT University.

RMIT University was recently ranked the second best university in the world for blockchain research and education, and scholars from the RMIT Blockchain Innovation Hub provided a submission and twice gave evidence before the inquiry.  

Mr Berg said the recommendations in this report offer the cryptocurrency and blockchain sector the clarity which is desperately needed to ensure a thriving future digital economy.

“We have an opportunity to take a global leadership position and compete with countries such as the United States, Singapore and Switzerland in this incredibly vibrant sector,” Mr Berg said.

“It is good to see our recommendations to change how cryptocurrency is taxed and how blockchain-based decentralised autonomous organisations (DAOs) are regulated being taken up by the Australian Senate."

One of the submission’s co-authors, Elizabeth Morton, particularly welcomed the committee’s recommendation for targeted reform of the capital gains taxation regime as it applies to cryptocurrency.

“We see an urgent need to ensure the tax system achieves balance in simplification, reflective of a digitally driven economy, encouraging tax compliance and protecting tax revenues from the risk of leakage," Dr Morton said.

“Reform will offer clarity for taxpayers and confidence in the tax system as a whole."

 RMIT Blockchain Innovation Hub research fellow, Aaron Lane said the Senate Committee’s recommendation to establish a new Decentralised Autonomous Organisation company structure, if legislated, will be the most significant reform to corporate law in two decades.

“Blockchain and cryptocurrency is not just about providing new types of financial products – this technology is the infrastructure for new ways of governing economic exchange," Dr Lane said.

“Providing DAO members with the option of a limited liability company structure will encourage talent and investment in Australia.”

Mr Berg said policy change "was much needed" to provide regulatory clarity to the industry.

“Senator Bragg and the committee have provided a compelling roadmap for how Australia can lead the global blockchain industry,” Mr Berg said.

The RMIT Blockchain Innovation Hub is based in the College of Business and Law at RMIT University, Melbourne.

https://rmitblockchain.io/

 

ends

MizMaa innovates with the best of East and West

By Leon Gettler >>

MIZMAA is an intriguingly-named an Israeli venture capital fund which provides long-term investment capital to back leaders making innovative changes to marketplaces, by using the best of the East and the West, to help tech companies in Israel come to fruition.

MizMaa Ventures is focusing on early stage Israeli technology companies taking their innovations to the rest of the world.

Its focus is in areas where Israel has “an unfair competitive advantage” compared with the rest of the world.

Aaron Applbaum, a partner at MizMaa said much of this intellectual capital comes out of successful military service, from a county that is small and isolated, facing much larger and better equipped adversaries. 

Israel’s competitive advantages in technologies include artificial intelligence (AI), big data, cryptography, cyber security, cloud, and devops.

 

ISRAEL INTO CAR DEVELOPMENT?

Mr Applbaum said another area MizMaa was focusing on had been in the area of mobility.

Israel has never produced a car. The centres of excellence for cars are in Japan, Germany and the United States.

However, this will change as the next 15 years will see the car industry transformed by machine-to-machine communication, connectivity, zero latency communication protocol and cyber security, with cars all connected to the internet and utilising sensors and radars. These are areas where Israel does excel.

“And because of that, we have taken these deep technologies where Israel is amongst the world’s best and applied it to an ageing disrupted industry like the automobile industry,” Mr Applbaum told Talking Business.

He said cars of the future would be smart, connected, autonomous, electrified and shared.

“The entire trillion automotive mobility world is getting turned on its head,” Mr Applbaum said.

“Our job fundamentally is to look 25 years out, work out what’s going to happen, work our way backwards to figure out what technologies are going to get us there and then identify people who can captain those ships.

“And the world is changing. Cars are going to drive themselves and packages will be delivered via drones and there’s the level of connectivity between people.”

 

BEHIND THE MIZMAA NAME

MizMaa is the combination of two Hebrew words: Mizrach and Maarav – which means East and West. Mr Applbaum said this sums up the direction of MizMaa, it is a truly global venture capital fund. One partner is in San Francisco in the greater Bay area, another partner is in Hong Kong, and yet another is constantly on flights between Manhattan and Tel Aviv in Israel.

“We have access to the large global corporates and capital markets of East Asia, Hong Kong, China, Japan and Korea,” Mr Applbaum said.

We have access to the intellectual capital of California, Silicon Valley. We have access to the customer base within New York, the insurance companies, the healthcare industry, the banks, all under one small roof, so that when a company takes capital from MizMaa, what they’re really getting is a truly global network,” he said .

MizMaa has a team of just five. It is lean and mean.

But counted amongst those five are the former global head of IBM’s fintech platforms, a former vice-chairman of JP Morgan who ran all of investment banking in Asia, a former general partner of the $8 billion Silicon Valley fund LightSpeed Ventures, an F-16 pilot with a background in mathematics and computer science and Mr Applbaum himself comes from the hedge fund world and has done structured finance in New York and Washington DC, predominantly focused on cyber security and enterprise software.

“While we’re a very lean team, we have very complementary skills and it’s not our first rodeo so we punch above our weight,“ Mr Applbaum said.

www.miz,maa.com

www.leongettler.com 

Hear the complete interview and catch up with other topical business news on Leon Gettler’s Talking Business podcast, released every Friday at www.acast.com/talkingbusiness

ends

CityZenith: Expect a boom in smart cities post-pandemic

By Leon Gettler >>

THE COVID-19 pandemic will trigger a boom in smart cities.

Michael Jansen, the CEO and founder of Chicago based CityZenith, said COVD-19 has alerted cities, communities and developers to new possibilities

“COVID-19 forced the cities to pause, as it were, and in the course of doing that, shut down normal functions which gives them a chance to reconsider how they wish to resume and there has been a lot of discussion around repurposing traditional pedestrian ways, converting traditional store fronts into other things, public spaces, things that can help revitalise and change cities as they come back to some semblance of normality,” Mr Jansen told Talking Business. 

“Also COVID taught us that certain cities are far better prepared to respond to the outbreak. Cities that had deployed … sensor technologies that were able to track movement, that were able to push data to a central hub, had an advantage.”

He said a number of South East Asian cities that had deployed these technologies were ahead of their counterparts, especially in the United States.

“The lesson of that will be that being able to know about real time movement in cities is important, not just of vehicles but of people and logistics,” Mr Jansen said.

LOOKING FORWARD DIFFERENTLY

Mr Jansen said projections of smart city development five years out had changed since COVID.

“Smart cities will also leave us better equipped to deal with future pandemics, which are more than likely, and natural disasters such as flooding, as well as providing benefits with energy savings and solar capacity,” he said.

Mr Jansen said smart cities help communities deal with technologies from water, to mobility to information technology – and to things that have nothing to do with technology, such as inclusion, social equity and resilience.

While the concept of smart cities had been around since the early 2000s, the market had not developed, despite a lot of goodwill and intention, he said. However, the market is changing now for smart city technologies, such as data platforms, relevant equipment, smart building technology and energy technology.

CITY ZENITH APPLIES FOCUS

Mr Jansen said CityZenith’s work was not so much an entire city, but part of a city, “a campus or district, as it were”. 

“Most likely, a focused development of some kind that may have a transformational role in that city,” he said.

“Our projects often require us to develop a digital twin hub of that area of the city first and build up this data, that the architects and engineers can begin to experiment with, by importing 3D models and moving things around and testing everything from solar analysis to flood resilience and things like that.

“The nice thing about having all this in a digital environment is that you can make changes,” Mr Jansen said.

“Once it’s enriched with data, which can be energy data from a local data base to sensor data which can be provided by a private company, all that comes together in a rich environment to run analytics for these complex projects.”

He said CityZenith licenses its technology to companies that build large projects and, at the moment, the company is focusing on decarbonisation projects to help owners and operators achieve carbon neutrality goals.

Mr Jansen said City Zenith would soon be announcing its first city in America and it’s received expressions of interest from all over the world, including Australia.

All these cities would be following in the direction set by Singapore years ago, he said.

www.cityzenith.com

www.leongettler.com

Hear the complete interview and catch up with other topical business news on Leon Gettler’s Talking Business podcast, released every Friday at www.acast.com/talkingbusiness.

 

Innovating through COVID: Brisbane Lord Mayor’s Business Awards finalists

FINALISTS in the 2020 Lord Mayor’s Business Awards have shown how Brisbane will grow and transform in a COVID-safe way, according to Lord Mayor Adrian Schrinner.

Cr Schrinner said research conducted as part of the awards process revealed how Brisbane businesses were adapting and overcoming difficult times through determination and ingenuity.

“Small businesses are the backbone of our local economy and are critical to our economic recovery,” Cr Schrinner said.

“From community and sustainability to digital transformation and social enterprise, Brisbane businesses have risen to the challenges of 2020 and are reaching new levels of success.”

In recognition of the challenging environment in which businesses have had to adapt, the 2020 Lord Mayor’s Business Awards will celebrate those who have shown excellence in business adaption, Cr Schrinner announced. 

“One of the things COVID-19 has shown us is that Brisbane businesses were prepared to step up and adapt to the ever-changing environment,” he said.

“The HSBC Award for Excellence in Business Adaption will be a fitting tribute of the efforts made to adapt and innovate during these unprecedented times.

Finalists for the inaugural HSBC Award for Excellence in Business Adaption include:

  • FareShare, a charity that relies on the support of corporate volunteers to cook millions of meals for people in need who had to find quickly adapt new COVID-safe practices;
  • Gnocchi Gnocchi Brothers, a Brisbane small business that quickly transformed its operation to ensure customers could still enjoy a delicious dish of their homestyle gnocchi with family and friends;
  • Street Science, a team of scientists and educators who regularly visit schools and shopping centres to change the way kids learn science who, when faced with a 90 percent decline in revenue as a result of being unable to do external presentations due to COVID-19, embraced technology to be able to continue their work.  
  • The Little Red Company, a Queensland production company that, in response to the COVID-19 pandemic that saw theatres shut down, pivoted to create The IsoLate Show, a free, live variety show bringing the cream of Australia’s musical talent into locked-down living rooms via Facebook Live every Friday night.

As the pre-eminent awards for Brisbane businesses, the Lord Mayor’s Business Awards have helped winners and finalists achieve greater levels of success.  

Law on Earth last year won the Brisbane City Council Award for Outstanding Micro Business in the Lord Mayor’s Business Awards.

“Winning the Micro Business Award provided us with the credibility to engage with corporates and has allowed us to scale the business over 500 percent on our projected growth,” Law on Earth CEO and founder, Katie Richards said.

“It has also allowed us to be accepted into Impact Boom Social Enterprise Accelerator and then Startmate, Australia’s best tech accelerator with global reach.”

Winners of the 2020 Lord Mayor's Business Awards will be announced on November 26, 2020. 

2020 Lord Mayor’s Business Awards List of Finalists 

HSBC Award for Excellence in Business Adaptation

  Yurika Award for Environmental Sustainability in  Business

·         FareShare

·         Enviro Sand Pty Ltd

·         Gnocchi Gnocchi Brothers

·         Howard Smith Wharves

·         Street Science

·         Hutchinson Builders

·         The Little Red Company

·         Transurban Queensland

   

ISPT Award for Outstanding Social Enterprise

    CCIQ Award for Outstanding Small Business

·         eWaste Connection Ltd

·         Bailey Print Group

·         Nundah Community Enterprises Cooperative

·         Ecoflo Wastewater Management

·         The Common Good – an initiative of The Prince Charles Hospital Foundation

·         Street Science

·         White Box Enterprises Ltd

·         UNE PIECE Pty Ltd

 

 

Urban Utilities Award for Product Innovation

     Award for Outstanding Micro Business

·         Comscentre

·         Charlton Innovation Pty Ltd

·         Enviro Sand Pty Ltd

·         Luxe.It.Fwd

·         Hutchinson Builders

·         Resource Hub Pty Ltd

·         Seipel Group Pty Ltd

·         World of Drones and Robotics Congress

 

 

ANZ Award for High-Growth Business Start Up

  Australia Pacific LNG Award for Business Innovation

·         CitrusAd

·         Aria Property Group

·         HINDSITE Industries

·         Customology

·         Lawcadia

·         Seipel Group Pty Ltd

·         UNE Piece

·         The Little Red Company

   

Port of Brisbane Award for Young Business Person of the Year

 The Courier-Mail Award for Business Person of the Year

·         Alexander Bell - Milton Rum Distillery

·         Harley Weston – Solaire Properties

·         Andrea Davey – Scout Talent Group

·         Kate Farrar – LGIAsuper

·         Ashleigh Morris - Coreo

·         Marie Mortimer – Firstmac

·         Matthew McHutchison – IVAA

·         Tyron Simon – 22 Agnes - sAme sAme

ends

Flinders Uni researchers cash in on marine byproducts 

AS EXPLOITATION of wild fisheries and marine environments threaten food supplies, Flinders University scientists are finding sustainable new ways to convert biowaste, algal biomass and even beached seaweed into valuable dietary proteins and other products.

In one of several projects under way at the Flinders Centre for Marine Bioproducts Development, researchers are looking to extract value from crayfish shells and other marine waste via a ‘green’ fluidic processing machine developed at the university.

“As world populations grow, so will demand for dietary proteins and protein-derived products and this cannot be met using traditional protein sources,” Flinders University professor Kirsten Heimann said. Prof. Heimann said millions of tonnes of sea catches produce bycatch, shells, bones, heads and other parts wasted during the processing of marine and freshwater species. 

Seafood processing by-products (SPBs) and microalgae are promising resources that can fill the demand gap for proteins and protein derivatives, the researchers wrote in a new publication.

“These biomaterials are a rich source of proteins with high nutritional quality while protein hydrolysates and biopeptides derived from these marine proteins possess several useful bioactivities for commercial applications in multiple industries,” Flinders University co-author Trung Nguyen wrote in the paper published in Marine Drugs.

“Efficient utilisation of these marine biomaterials for protein recovery would not only supplement global demand and save natural bioresources but would also successfully address the financial and environmental burdens of biowaste, paving the way for greener production and a circular economy.” 

VALUE ADDING INNOVATION

Value-adding also looks promising with many of the bioactive protein-derived products gaining attention to promote human health including in drug discovery, nutraceutical and pharmaceutical developments.

Estimates of the commercial value of these therapeutic protein-based products in 2015 was US$174.7 billion and is predicted to reach US$266.6 billion in 2021, leading to a two-fold increase in demand of protein-derived products.

Globally, 32 million tonnes of SPBs are estimated to be produced annually which represents an inexpensive resource for protein recovery while technical advantages in microalgal biomass production would yield secure protein supplies with minimal competition for arable land and freshwater resources.

This comprehensive review article analyses the potential of using SPBs and microalgae for protein recovery and production critically assessing the feasibility of current and emerging technologies used for the process development.

The nutritional quality, functionalities, and bioactivities of the extracted proteins and derived products together with their potential applications for commercial product development are also systematically summarised and discussed in the free online paper.

The Flinders research team aims to provide sustainable solutions and a strong business case for expanding Australia’s marine bioproducts industry to become internationally competitive and attractive to investors and export-oriented markets.

The project used patented technology, the vortex fluidic device, that represents a new chemicals processing capability, enabling new synthesis strategies with a diversity of research and industrial applications.

The article, Protein Recovery from Underutilised Marine Bioresources for Product Development with Nutraceutical and Pharmaceutical Bioactivities by Trung T Nguyen, Kirsten Heimann and Wei Zhang has been published in Marine Drugs, 2020 (DOI: 10.3390/md18080391)

 

Dr Trung Nguyen and Professor Kirsten Heimann, from the Centre for Marine Bioproducts Development at Flinders University, testing southern rocklobster shells with the Flinders vortex fluidic device processor to produce a pure protein powder.

COVID-19: our greatest opportunity to innovate – with ‘presilience’

By Dr Gavriel (Gav) Schneider >>

WE HAVE ALL been disrupted by COVID-19 and the way we do business has changed forever. Now it’s up to us, as to whether we are able to produce some positive outcomes from these challenging times or not.

Regardless, of the challenges we have all faced (at different extremes) we have within ourselves, the ability to thrive, no matter what the future holds. But (and it’s a big but), if we continue to do the same thing over and over again while expecting a different result, we are almost guaranteed to be disrupted ourselves.

COVID has created a unique opportunity to level the playing fields somewhat, in that we have all been disrupted and made uncomfortable to one degree or another – and as uncomfortable as it has been, (and will likely still continue to be for some time), this is often where the best opportunities lie. 

MAKE A START

So where do we start? In order to drive positive outcomes, it’s important to understand where we are currently.

Experts have stated that we are now entering the 5th Industrial Revolution, which focuses on leveraging ‘human capital’ (our people, the potential and resource that we, as people, arrive with and develop), combined and supported by all the benefits that our technological advancements bring.

In terms of the human capital, we are starting to see signs of the need to prioritise and put the ‘human element’ at the centre of our organisations. We see it coming through in Royal Commission findings (especially around areas such as risk culture), we certainly see it in the Bushfire Royal Commission, looking at community engagement and response; and we see it in a myriad of other examples – not least of which is COVID, where the human element has been elevated even beyond global economic well-being.

What makes things so different now is the increasingly co-dependent and integrated link between technology, systems and human capital, and their need to work together at a pace that has never been demanded or required before.

OLD BUSINESS MODELS NO LONGER FIT

Regrettably, many Australian organisations are still built on business structures and models that were designed for the previous era(s) – most of which rely heavily on red-tape and outdated, cumbersome systems and procedures.

Because of this, these organisations are struggling to adapt and keep up in such a disrupted business landscape.

This is primarily as a result of our comparatively highly regulated  and compliance centric approach to business where, for the most part, Australian businesses and government bureaucracies have not been looking around and forward, and have instead been dominated by risk aversion, over-regulation and an outdated position.

This has not only made things difficult from a strategic and operational perspective in this brave new world, but has also made us non-competitive in areas such as manufacturing – and we see the consequences of this with off-shoring.

To add insult to injury, aspects such as reactive, hyper-conservative, blame-based or compliance-focused cultures have made adaption even more difficult, especially in larger organisations.

HOW TO DO ‘HOW TO DO IT’

It’s not all doom and gloom though. Many business leaders actually feel these frustrations every day but find it difficult to articulate, and even harder to action.

As it has been described to me by many a senior executive: We know we need to do things differently, to drive a more strategic, agile and adaptable approach but how do we do it?

Outdated governance models, such as the Governance, Risk and Compliance (GRC) approach, no longer work effectively in a world that requires agility, adaption and innovation to be built into our systems and people.

So in order to thrive in a world where uncertainty, complexity and ambiguity are now the norm, we find the golden key embodied in a new approach – the Presilience[1] Approach [Presilience is a is a registered trademark of the Risk 2 Solution Group].

We need to move past the perceptual barriers and outdated compliance-based, reactive approaches, to a new way (which doesn’t throw the proverbial baby out with the bath water), which merges the best of the old with the best of the new.

In essence, Presilience is an approach that focuses on integrating three key aspects to create enhanced productivity. These are:

  • Enhanced Decision-making / Robust Risk Culture;
  • High Performance (including high productivity);
  • Effective Leadership.

It is important to note however, that Presilience is not about “out with the old, in with the new”. It’s not about ignoring aspects such as compliance (which would clearly be disastrous).

Rather, it’s about accepting that there is a maturity journey we should all be on. To better explain this we like to focus on what we call the Presilience Maturity model. The model highlights three states of operation or approaches that we need to look at for our businesses to evolve and grow:

  • Compliance – this is the basic minimum we need to operate in any given sector. If an organisation is compliance focused only it will be highly vulnerable to rapid changes and be very slow to adapt.
  • Resilience – the next step up is a focus on resilience where it is accepted that things could go wrong, but we are prepared for this with the aim of trying to return to business as usual as quickly as possible. The resilience mindset is a great step forward from that of compliance but is still defensive and negatively biased by nature.
  • Presilience – The optimal state is that of Presilience. This is where we incorporate the best aspects of compliance and resilience, but Presilience focuses not only on the opportunities to bounce back more effectively when things go wrong, but also constantly on positioning ourselves and our businesses to adapt, innovate and improve wherever possible

WHY PRESILIENCE WORKS

Essentially, the Presilience Approach works on a building blocks method that focuses first on the individual, then at the team level and finally at the organisational level. Only by taking this kind of approach – one which focuses on the individual as a part of the whole – will we gain a genuine societal benefit – one resultant from more resilient and productive businesses.

The goal should be to embed these behavioural characteristics in ourselves and everyone who works with us and strive to have them inbuilt into our systems and processes.

We must look at the systems in play in our organisations and ensure that our governance structures are practical, well thought out and do not become roadblocks to innovation and adaptability.

It is possible (and in fact necessary), to be both compliant and adaptive at the same time, but while it’s not easy in an over-regulated environment, it is possible.

The single biggest opportunity for Australian business to grasp is that of Presilience.

As business leaders, let’s use the disruption of COVID to build Presilience in ourselves, our organisations and ultimately our society, so that we are better off for this experience.  

 Dr Gavriel (Gav) Schneider is CEO of the Risk 2 Solution Group and the program director of the Australian Catholic University’s (ACU) Postgraduate Program in The Psychology of Risk. [1] Presilience is a registered trademark of the Risk 2 Solution Group.

 

 

 

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MANSFIELD QLD 4122