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Senator calls for tech industry to dispel myths

Head of Fintech Senate Committee urges sector to address opportunities

7 February 2020

ACS, the professional association for Australia’s technology sector, today hosted Senator Andrew Bragg, chair of the Senate Select Committee into Financial Technology and Regulatory Technology who outlined committee’s progress to date.

At a lunch held at ACS’ Melbourne Innovation Hub, Senator Bragg flagged two major narratives Australia’s IT sector needs to address – the myth technology destroys jobs and how tech has permeated the economy.

Supporting the broad reach of the tech sector, Senator Bragg pointed out a submission from the National Farmers Federation: “As they point out there are already a vast range of applications for digital technology in agriculture which is rapidly growing.

“These are applications which include water management and maintenance alerts, remote monitoring and management of livestock, crops and soil, precision chemical and fertiliser application, objective measurement and traceability.”

The focus on jobs was underscored by ACS’ 2019 Digital Pulse report which forecast Australia’s technology workforce will grow by 100,000 workers between 2018 to 2024.

Senator Bragg also described the themes which emerged from the Committee’s first round of hearings held in Melbourne this week, which emphasised the need for collaboration between government and industry; the importance of the Consumer Data Right; tax reform; access to capital; and regulatory reform.

In concluding the lunch, Senator Bragg called on the fintech industry to provide its best ideas to grow the sector ahead of the second round of hearings to be held in Sydney next week.

ACS CEO, Andrew Johnson, thanked the Senator for his views on the inquiry saying, “It was an honour to host Senator Bragg at our Melbourne Innovation Hub today. His views underscored the importance of the technology sector to the Australian economy and points the way forward for greater government support.”

-ENDS-

 

Further information

Troy Steer

Director of Corporate Affairs and Public Policy

M – 0417 173 740

E – troy.steer@acs.org.au

About ACS

ACS is the professional association for Australia's technology sector. More than 45,000 ACS members work in business, education, government and the community. ACS exists to create the environment and provide the opportunities for members and partners to succeed.

The Society strives for technology professionals to be recognised as drivers of innovation in our society, relevant across all sectors, along with promoting the formulation of effective policies on technology and related matters. Visit www.acs.org.au for more information.