iot
Original Published Date: 
Wednesday, November 4, 2020

Full release issued by The Australian Council of Learned Academies (ACOLA).

The Australian Council of Learned Academies (ACOLA) has released a report, with support from the ARC, highlighting the significant benefit Australia is well placed to derive from devices with sensors enabled by connectivity and enhanced by artificial intelligence and data analytics – known as The Internet of Things (IoT). The report explores key considerations to maximise the IoT opportunity: including improving the liveability and sustainability of our cities and regions, strengthening our healthcare systems, and growing Australia’s advanced manufacturing sector. 

The ACOLA study provides critical evidence and an interdisciplinary perspective of the IoT landscape for governments, the research community and industry.  It recommends that a balanced and collaborative approach is taken to build community understanding, safeguard the rights of citizens, develop our workforce and ensure the appropriate regulatory environment is in place.

This report, the sixth in ACOLA’s Horizon Scanning series, was commissioned by Australia’s Chief Scientist Dr Alan Finkel AO FAA FTSE on behalf of the National Science and Technology Council (NSTC), and supported by the ARC and the Department of Infrastructure, Transport, Regional Development and Communications. 

The IoT presents a critical economic opportunity for Australia. In 2016-17, IoT activity – from goods and services that enable an internet connection – was already worth $74.3 billion to the economy, with growth in gross value added (GVA) outpacing the Australian economy overall since 2014-15.

Photo credit: 

Source: Needpix (Public Domain).