INTHEBLACK July 2022 - Magazine - Page 20
F E AT U R E
// T R A N S F O R M AT I V E
TECHNOLOGY
AT A G L A N C E
Until recently,
Australia recorded
28 years of
uninterrupted
economic growth,
which ended due
to the effects of
the pandemic.
However, the rate of
economic growth has
been on the decline –
the decade ending in
2019-2020 was the
worst decade of
growth in 60 years,
according to the
Productivity
Commission.
The main reason for
the decline is a slump
in multifactor
productivity, and
reversing this requires
greater uptake of
transformative
technologies such as
the Internet of Things.
MEETING
THE
CHALLENGE
20 ITB July 2022