DT Economics has written a report detailing the economic contribution of cloud computing to Australia. The report was funded by Amazon Web Services (AWS) and published by the Australia Information Industry Association (AIIA).
Cloud adoption enables organisations to unlock the benefits of digital transformation. These benefits include better market access opportunities, enhanced capabilities, cost savings, improved operational resilience, reduced cyber security risk, reduced energy and carbon emissions. By providing scalable, flexible, and cost-effective IT solutions, cloud computing also supports the integration of emerging technologies such as Artificial Intelligence (AI) and Machine Learning (ML) across Australia’s public and private sectors.
Our report highlights that the cloud industry in Australia has a significant impact on the economy with its GDP contribution rising from AU$2 billion to AU$9-10 billion between 2007 and 2023. The industry supported 47,000 – 56,000 jobs in 2022-2023, which is projected to increase to 71,000 – 84,000 jobs by 2028-2029. Importantly, cloud facilities are expanding across urban and regional areas, promoting job creation and infrastructure development - see figure 1 and 2 below.
Given the value at stake, policymakers should proceed with caution when considering the introduction of new ex-ante economic regulation in the cloud sector. The report outlines 10 principles for evaluating regulatory proposals to ensure competition without compromising innovation and investment in the cloud industry - see below.
More information and a copy of the report can be found here:
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