China has overtaken the US as the dominant nation as far as cross-border data flows are concerned, the website Nikkei Asia reports, pointing out the Beijing now accounts for 23% of the flow while Washington is a poor second at 12%.
The US Government has belatedly realised that it is aiming at the wrong target and is now frantically warning European countries not to use the cloud business of Chinese telecommunications equipment vendor Huawei Technologies, US economist David P. Goldman claims.
The Fourth Industrial Revolution is on the horizon and its impact will be global with markets worldwide seeking to apply advanced technologies to raise their economic value and competitiveness. Australia too is looking to leverage its own opportunities to drive innovation and productivity in sectors such as mining, agriculture, healthcare and cybersecurity. The latest situation of COVID-19 will ensure acceleration of innovation in the healthcare sector.
Australian business leaders and its people are optimistic about digital transformation but there is anxiety in delivering on the promise of the ‘Fourth Industrial revolution’.
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