Global tech investment furthering opportunities for Aus businesses
Australian businesses should adopt new technology and new forms of software being developed overseas, rather than see such progress as a potential risk, according to an expert in the space.
Speaking at PEXA's PropertyX conference, Andrew McLeod, director, head of technology, media and telecommunications (TMT) research at Morgan Stanley, said the development of new forms of technology and data in international jurisdictions is driving further growth opportunities for businesses operating in the Australian market.
"In the 20 years I’ve been in this industry I’ve been offshore to San Francisco and Silicon Valley a couple of times of year.
"They’re investing more in technology and in new forms of software than they ever have before, and it’s not just specialist technology. The Facebook's, Google's and Amazon's of this world are all looking for opportunities around the world."
In order to keep up, businesses should be looking at ways to adopt new technology and implement it throughout their business, according to Mr McLeod.
"When you look at how tech is influencing industries it means disruption and there’s two things that come from technology disrupting industries," he explained.
"It t can bring pain in terms of business models becoming extremely turned on their head and become not profitable anymore.
"When technology comes through it causes disruption and that can be painful as it affects profits but can also present fantastic opportunities.
"Technology brings opportunities for new players to come into industries, to do things in a different way and ultimately create new profitable businesses as well.
"So there are good and bad things that come with technology, so don’t just look for the negatives, look for the positives as well."
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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