11 July 2018

NZ’s bottom line is digital

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The benefits of digital transformation to a country’s bottom line have been proven in a recent IDC study commissioned by Microsoft.

The report revealed:
  •       Approximately 55% of New Zealand’s GDP will be derived from digital products or services by 2021, compared to 6% in 2017
  •       By 2021, digital transformation is expected to add 0.7% CAGR GDP growth annually
  •        Digital transformation has increased profit margin, revenue from new and existing products & services, productivity, as well as improved customer advocacy (and these benefits will also improve by at least 40% in three years)
  •       Leaders in digital transformation reap double the benefits compared to Followers
  •       Digital transformation in New Zealand will benefit citizens with increased access to better education, training and creation of higher value jobs

The report has been closely followed by the assembly of the Digital Economy and Digital Inclusion Ministerial Advisory Group which has been established to link innovators, leading thinkers and enablers with the key purpose of enabling government to grow the digital economy and reduce digital divides.

The group is chaired by Frances Vallintine, Founder and CEO of Tech Futures Lab and comprises 15 members from across central and local government, NGOs, Māoridom, industry and community groups.

Established by Broadcasting, Communications, Digital Media and Government Digital Services Minister Clare Curran, Ms Curran said she was committed to ensuring no-one was left behind given the rapid pace of technological change.

“Creating a blueprint for digital inclusion will help ensure New Zealand businesses and all Kiwis have access to connectivity, as well as the foundational skills and motivation, to thrive in their online lives,” Ms Curran said.

“The 15 members have been appointed for a period of 12 months and I expect to meet with them next month to discuss the Group’s work programme for the year. There’ll also be opportunities for people with different sector-specific expertise to be part of this work and shape the way we tackle digital divides.”

The government has been warned, though, to be wary of worsening the digital divide given it is now in discussion regarding the policy for transitioning to 5G.

In a request by The Ministry for Business, Innovation and Employment for industry players to provide their perspectives on the challenges and opportunities of a 5G rollout, telecommunications company Chorus warned that the economics of 5G will be challenging and that a ‘business as usual’ approach to deployment was unlikely to achieve economic sustainability.

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Written by: Claire Dowler

Claire is the manager of Akolade’s government and digital portfolio. She’s passionate about emerging digital trends, particularly in the public sector. In her spare time she enjoys picking up heavy things and putting them back down again and animals are her favourite kind of people. 

Follow me on LinkedIn for information regarding future Akolade events as well as future blogs posts @ Claire Dowler

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