Are We Ready for the Digital Economy?

Are We Ready for the Digital Economy?

Chartered Accountants Australia and New Zealand’s latest publication Future proofing the profession: preparing business leaders and finance professionals for 2025 shows that we are suffering from an emerging skills gap.

A contributor to the publication, CISCO Systems Australia and New Zealand Executive General Manager of Corporate Affairs, Tim Fawcett says that the companies on the Fortune 500 list today, only 24% existed 25 years ago.

Head of Academic Relations, Professor James Guthrie said that the impact of the digital economy is profound and is set for further impact in the near future.

“Skills, particularly STEM skills will be required for jobs of the future – but enrolment in these subjects and courses has been in decline,

“This in conjunction with technology disruptions, the impact of regulation and the lack of these skills in current and future workforce are critical issues that the Australian and New Zealand governments need to deal with now.

“Workplaces are increasingly flexible, innovative and creative – the appetite to embrace the digital economy is there.

“Businesses are expected to drive over 500% boost in digital jobs – without the right skills there is a risk that Australia and New Zealand will not be part of the business of moving towards efficient and effective use of technology and adapting to disruptions unless needs are supported and met,” Professor James Guthrie said.

ENDS

© Scoop Media