Crops and rocks are Aussie economy’s building blocks … but we must build beyond being the 105th country for economic complexity

OPINION by John Sheridan, myRegion >>

CROPS AND ROCKS. Dirt and seeds. With a garnishing of travel and education.  It pays the bills, but postpones economic development year after year after year.

It is condemning our children and grandchildren to leaving the country if they want a high-value, high-reward job that matches the STEM (science, technology, engineering and mathematics) and STEAM (include ‘arts’) education that we channelled them into.

And now in a world beset by war, ‘erratic leadership’, instability, supply chain interruptions and artificial intelligence (AI), we need to do something.

I am tempted to say, anything, but that would not be the best use of action. Changing the picture (below) would be a good start:

Because we can. We have the means to rebuild economic complexity. We have the knowledge. We have the brain power. We have the 40 research-based universities. We have CSIRO.

We just lack decision. We lack direction. We lack ambition. We lack a plan.

Ambitious Australia?

Creating yet another report and calling it ‘Ambitious Australia’ illustrates this problem.

Because we are not ambitious. Only in our ability to generate reports. Publishing reports is the illusion of action. It looks like something is happening, but it isn’t.

We are world class at publishing reports but they rarely lead anywhere.

The image below with the red arrow, shows the steady decline over 25 years of Australian ‘ambition’.

It shows what reports achieve. Nothing.

It shows that our growth centres grew nothing. Our ambition led nowhere.

Let’s look at a better picture

Forget that image and look at the one at the top of the article.

Eight building blocks; 21st century industries; IP refreshed and supported by our university research; targeting economic opportunity, and multiple markets across the world.

Medtech and biomanufacturing – vaccines, cell therapies, enzymes, biotherapies, tissue repair, x-ray products, mobility aids.

Functional foods – precision nutrition, vitamins and supplements, sports nutrition.

Ag-tech – farm management software, soil carbon sequestration, field robotics, biosecurity risk management, water and irrigation management.

Clean energy – batteries, hydrogen electrolysers, electric motors, critical mineral reclamation, fusion energy.

Advanced manufacturing – aerospace components, quantum hardware, monitoring, process automation, composite solutions.

Defence and space tech – dual-use innovations in sensors, rocket, satellites, robotics, drones, surveillance technologies.

Creative and digital IP – games, virtual production, Indigenous art and culture, edtech, fintech platforms, animation.

Waste and recycling – advanced sorting, molecular and chemical recycling, waste to energy, specialised stream recovery.

We can all help REBUILD Australia

It is time to use all the tools of the digital revolution and REBUILD. Visit REBUILD on the myRegion website to see what I mean.

We can do it. We have the brain power. We have the ideas. We have the enthusiasm.

We are already generating ideas and innovations across the nation. It is happening. It just doesn’t get much press or media.

Good news doesn’t generate the Fear, Uncertainty and Doubt – FUD, that newspapers, radio, and social media rely on to capture attention and keep it. We are addicted to FUD.

AI is treated as a threat rather than an opportunity. “AI and robots are going to destroy jobs.” Not true. Certainly not in Australia.

The corporates have done their downsizing. The government won’t downsize. The SMEs can’t downsize. The ‘cut staff for profit’ model has reached its physical limit in Australia.

AI used wisely, offers Australian SMEs and corporates the opportunity to increase productivity and even address some of our ‘wicked problems’.

Visit the INSIGHTS section on myREGION and see what I mean.

The world is our marketplace. Emerging economies, developing economies and developed economies are all interested in what Australia can offer. And we need to optimise and maximise that opportunity, because that is what will employ our children and our grandchildren. Visit STUDY OPTIONS as well.

We have answers, but politicians still ask the wrong questions

We can address every one of the ‘wicked problems’ we face. We already have the answers. We just need our politicians to ask the right questions.

‘How’ would be a good place to start.

Demonstrating the answers to those questions would not just be a good thing for Australia, but a good thing for other countries across the planet …

… Because the madness of misplaced leadership is on offer for all to see.

The possibility and potential of collaboration and positivity is often hidden. Watching and reading the webinars and videos from our universities every few months is a constant inspiration. Wow. This is happening. Who knew?

Reading and understanding the good news is what can and will lead us forward. The bad news just leads to depression and hopelessness.

The good news and inspirational stories deliver realisation and hope.

And the understanding that we can actually fix this mess. Collectively. Individually. Together.

Human beings are resilient creatures. Creative. Collaborative. Hopeful.

Which is a good thing.

Crops and rocks are the building blocks. But the building needs a plan.

Here’s a plan …

John Sheridan is the CEO of Digital Business insights (DBi) whose latest platform, myRegion, aims to assist regions to connect and develop their local economies while becoming part of the platform’s Australia-wide knowledge diffusion and collaboration process. DBi has been researching, collecting and measuring data while producing reports and comment on the digital technology channels of the Australian economy for more than 25 years. www.myREGION.au. www.db-insights.com.

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