Australia’s research and development (R&D) spend is going down when compared to its OECD peers, and according to Adrian Turner, CEO of the Commonwealth Scientific and Industrial Research Organisation’s (CSIRO) Data61, this is indicative that something is “systemically wrong”. Speaking at D61+ LIVE in Brisbane on Tuesday, Turner said his organisation is calling on people to form a collective movement to change the trajectory of Australia. “We’re at a fork in the road,” he said. “It’s now or never for Australia.” Launching a new report from Data61, Digital Innovation: Australia’s $315b Opportunity, Turner highlighted that although Australia offers world class research expertise and a skilled workforce, the nation still doesn’t quite grasp that it needs to up its innovation game. He said there’s a potential AU$315 billion in gross economic value over the next decade to be made if innovation is taken seriously. The AU$315 billion projected figure is just if Australia reaches parody with its OECD peers, however. “A critical message in this report is that this next science and technology driven economic cycle is ours to capitalise on, but the opportunity is perishable if leaders across the national innovation ecosystem don’t take action now,” Turner said. He highlighted… Read full this story
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