Extracting the benefits from the Subsea Cable
Data is the new oil. However, like oil this cash cow cannot be accessed without the proper infrastructure.
In the last year we have created as much new data as had been created in the previous 5,000 years, and much of the value that we will offer customers tomorrow will be derived from the way in which we collect this data today.
This is where the forward-thinking work from the Council in bringing the International Broadband Cable to the Sunshine Coast must be appreciated and understood by local business so that we are able to extract the true value from this investment.
Last week the Caloundra Chamber of Commerce supported the Sunshine Coast Business Council in delivering their ‘Digitalisation Moving the Regional Economy Forward’ conference designed to engage key business leaders and academics in the health and education industries.
The intention of this workshop was to develop a draft action plan to guide industry innovation and growth through transformative digital technologies with a core focus on leveraging the benefits of the International Broadband Cable.
Workshops such as this, which drive collaboration between the public and private sector, are crucial in future proofing our regional economy, thinking expansively and striving towards the digital enablement of the Sunshine Coast.
This is because, while the Cable will undoubtedly contribute to the Sunshine Coast’s unique selling proposition and become a point of seduction to investors, our ability to extract lasting benefits from this digital infrastructure will depend on the ecosystem which we build around it.
One of the most rudimentary areas which must be considered is the incredibly low number of university graduates in key fields of computer and data science throughout Australia which are in such high demand.
Stayed tuned for my next article where I’ll delve into far more detail about the benefits of the incoming Cable and we can best capture this as a community.