The seven innovation megatrends that Australia’s prosperity depends on: CSIRO report

Australia’s prosperity depends on being a high performing innovation economy, according to CSIRO chief executive Larry Marshall.

“In an interconnected world of accelerating technology-driven change, our future prosperity, health and sustainability is closely bound to our capacity for innovation,” he says in a CSIRO strategy paper released this week.

So what should Australia’s innovation priority be? The CSIRO asked more than 7000 creative, customers, experts, and the public to help identify what megatrends should guide Australia’s innovation agenda. Here are their suggestions:

1. More from less

Innovation in meeting human needs by more efficient use of mineral, water, energy and food resources in light of escalating demand and constrained supply.

2. Planetary pushback

Changes in earth systems from the global to microbial are creating challenges for humanity, including climate change and antibiotic resistance.

3. The silk highway

Rapid growth of emerging economies, urbanisation, geopolitical change and the transition from industrialisation into technologically advanced service sectors.

4. Forever young

The rise of the ageing population, retirement savings gap, lifespans, healthcare expenditure, diet and lifestyle-related illness and mental health awareness.

5. Digital immersion

The exponential growth in computing power, device connectivity, data volumes, internet users, artificial intelligence and technological capabilities.

6. Porous boundaries

Changes in organisational models, governance systems and employer-employee relations in a more agile, networked and flexible economy which breaks through traditional boundaries.

7. Great expectations

The rise of the all-important experience factor as society and consumers have rising expectations for personalised and positive experiences involving social interaction, morals and ethics, and the physical world.

If you’d like to know more check out the full paper – CSIRO Strategy 2020: Australia’s Innovation Catalyst.

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