Video: Link to video on the Liberty ITCG YouTube channel: https://youtu.be/4U1iKRNfZHM
Supply and demand of course being one of the key issues we’re talking about here, but in my mind when it comes to capability, this city, this state, New South Wales, is second to none.
Liberty does a lot of work in the financial services industry… I can tell you for a fact that Europe and South East Asia are looking to this part of the world for innovation. That they’re looking to this part of the world for successful implementations of technology. And if we take the example of what the New South Wales Services government has done to digitise this state, we know and we can see… it’s well publicised… that there are external governments that are looking at what New South Wales has accomplished with digitisation to improve customer satisfaction and customer experience. And they’re looking to this part of the world for ideas, for innovation. So, capability, in my mind, is not the issue at all. It is supply and demand.
Look, I couldn’t agree with you more there. I remember being in the US inside Apple headquarters and someone came to me and said, look, I’ve got to go to the DMV to get my licence renewed.
And it was all either paper -based or form -based or something. And I showed them the Surface New South Wales app and everything there, not just licence, but everything. So I think like you say, the capabilities, which is interesting, that not only individuals from overseas, Europe, America, but actual governments overseas are looking to what we’ve achieved.
I mean, can you imagine the type of significant, incredible changes that occurred? I mean, unfortunately, due to COVID, we also had to adapt on the digital side and that really created that imperative to do that.
I’d also like to call out the fact that universities are also part of that capability creation but we can’t let them stop at the ideation prototype stage. We actually need to ensure that some of the innovations coming out of our universities can actually be translated and brought to bear commercially.
And that’s the other gap I think that exists. I mean when industry puts its mind to it, there’s some great commercial opportunities, great products, great things that are shown through the rest of the world as top in the world, new to world stuff.
Governments can do it. Again, the New South Wales government’s whole emphasis in service in New South Wales and other places, Department of Customer Service. But you know, why aren’t we also capitalising on all the knowledge, innovation, capabilities inside the universities that shouldn’t just sit there?
They should go out and we need to look at how do we translate that into commercial success which also benefits the economy, benefits the industry and then puts us even at a higher level in the world stage.
We’re small, the market here is tiny. Everything that we need to do is have a global mindset but we do need to put some support or some change in thinking and maybe some change in strategy to ensure that that also can come to fruition at university level as well as at the industry level.