The Australian Government is looking to position Australia as a global leader and pioneer in the tech space, aiming for a future as a modern and leading digital economy by 2030.
The country’s economic transition and a constant need for efficiency is driving the demand for digital technologies including digital health, transport and logistics, cyber security, financial services (FinTech), digital infrastructure and data centres, agribusiness and food (AgTech), resources and energy, government services, education (EdTech) and tourism.
In 2021-2022, digital technologies were allocated $1.2 billion in the Federal Budget for strategic investment. The Morrison Government is investing in jobs for Australians now and into the future with key initiatives including:
Over $100 million to support digital skills for Australians including a new pilot program for work-based digital cadetships that offer a flexible way for workers to build digital skills, investments in the cyber workforce, and scholarships for emerging technology graduates.
Building Australia’s capability in Artificial Intelligence with $124.1 million in initiatives, including a National Artificial Intelligence Centre led by CSIRO Data 61, supported by a network of AI and Digital Capability Centres to drive adoption of AI across the economy.
Helping small and medium businesses build their digital capacity through a $12.7 million expansion of the Digital Solutions - Australian Small Business Advisory Service, and $15.3 million to drive business uptake of e-Invoicing.
Strengthening safety, security and trust with over $50 million to enhance cyber security in government, data centres and future telecommunications networks.
Whilst these initiatives are a solid strategy for evolving home-grown businesses and boosting skills, becoming a digital powerhouse also creates the need to attract talent in specialist technologies, management and business. Enter the Global Talent Program.
Australia has long benefited from international arrivals bringing talent and skills to fuel our economic growth. Border closures during the pandemic highlighted our dependence on overseas skills across the economy.
The Global Talent Visa Program is a Federal Government initiative designed to incentivise the best talent across the globe to live and work in Australia. By bringing in international talent we can benefit from;
Transferring and building Australia’s skills base
Increasing productivity and filling in critical gaps in capability
Promoting innovation in future-facing industry sectors
Expanding channels of capital available for investment
In our white paper report released last month, we noted outcomes from the Robert Half Survey of 200 companies in the finance and technology fields. The results in the graph below demonstrate which skills were relied on from international talent due to a lack of home-grown availability.
The AOYE Group are committed to filling the gaps and supporting the key industry sectors in strong demand for DigiTech skills. Australia has an expanding, multi-faceted digital economy with an e-ready government, industries and consumers and an accomplished and innovative ICT R&D sector. With Australia valuing innovators who think differently and can expand existing industries and kick-start new ones, there are vast opportunities for those skilled in DigiTech now and in the future.
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