Smart systems key to increasing GDP, with jobs to grow to over 70,000

Sydney – 21 May 2009 – IBM Australia today announced the findings of the ‘The economic benefits of intelligent technologies’ report conducted by Access Economics. Commissioned by IBM, the report reviews the potential economic benefits from the adoption of smart technologies and systems, and reveals that adopting smart technologies in electricity, irrigation, health, transport and broadband communications will contribute:

Smart systems will allow us to use this data far more effectively, providing the potential to radically alter our economy and society for the better. According to Glen Boreham, Managing Director, IBM Australia and New Zealand, this research demonstrates that the investment in smart technology has significant GDP and jobs benefits.

“This type of investment should form part of any stimulus package or budget allocations into the future. This is why we are delighted to see the government’s announcement in the budget that it will provide $100 million in this next financial year for an integrated system of renewable energy, smart grid and smart meter technology and infrastructure.

“This is exactly the type of investment we have been calling for. It is an important step forward and we strongly endorse it. IBM would like to see this type of smart technology approach adopted in all infrastructure projects,” Mr Boreham said.

Whilst adoption of smart systems is encouraged by the Australian Government, deployment is still in its infancy, states Dr Ric Simes, Director of Access Economics.

“When you look at the large amounts of data that are collected on a daily basis and how that is being used, the benefits of investing in smart systems become extremely compelling. Given the improvements that could be made in terms of decision making and societal coordination, this will ultimately lift our economic efficiency and living standards,” Dr Simes said.

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22 May 2009 Smart systems key to increasing Australia's GDP, with jobs to grow to over 70,000 in 2014

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Leah Sneddon

IBM Communications 02 9463 5475