The adoption of new digital automation technologies in the mining and oil and gas industries could add $74 billion in value to the national economy by 2030 and create more than 80,000 new jobs, a new report finds.
Automation has been in the sector for some time, however the next wave of growth will come from the widespread adoption of Industry 4.0 technology.
And Australia's METS companies are well placed to lead this next phase.
But to realise these benefits, Australia's technology sector must act now, the report warns.
The Staying Ahead of the Game report was released today by Industry Growth Centres METS Ignited and NERA (National Energy Resources Australia).
Prepared by AlphaBeta, the report examines the positive impact new technology could bring to the local sector.
"There is a real and immediate opportunity, Australia has the right foundation and experience to create a highly competitive resources technology ecosystem, contributing more jobs and growth to our economy," says METS Ignited CEO Adrian Beer.
"As an industry, we must focus on having the right framework in place to realise this vision,” he says.
Social and economic benefits
This includes actively upskilling the workforce for their future roles and strengthening collaboration among industry, government and education providers.
It is also vital to invest more in commercially-orientated research and development.
Mr Beer says the growing use of digital technology creates additional social and economic benefits for the broader community.
“We will see significant environmental advantages, improvements in workplace health and safety outcomes, and further investment in regional centres and local technology providers if our industry acts now."
Minister for Industry, Science and Technology Karen Andrews says Australia has one of the most competitive mining, oil and gas industries in the world which will continue to boost our economy as it transforms.
Benefits of analytics and robotics
“A vibrant and competitive resources sector is vital to Australia’s economic future and the adoption of Industry 4.0 technologies will be a key driver of industry transformation,” Ms Andrews said.
“The use of analytics and robotics not only provides significant safety and environmental benefits, it is also rapidly increasing job opportunities.
“This kind of technology opens up new, unexplored opportunities for the resources sector and what this report shows is the huge economic opportunity if new technology is embraced.
“The new jobs will be created across the country, including many in the regional areas where mining already exists, which will ensure the continued vibrancy of these communities.”
Critical opportunity for resources industries
NERA CEO Miranda Taylor said the report findings indicate a critical opportunity for Australia's resources industries to take the actions needed to ensure they can translate automation and robotic technologies into real employment and productivity advantages.
"As part of the Industry Growth Centres Initiative, we have a mandate to ensure Australian industry adapts to rapidly changing technology and emerging workforce trends,” she says.
“Sector-wide collaboration is critical to addressing workforce planning issues, widening and deepening the pipeline of appropriately skilled personnel, cementing a culture of R&D investment and growing our entrepreneurial ecosystem to continue commercialising and integrating new technologies."
Dr Andrew Charlton, Partner at AlphaBeta, says Australia needs to be bold to realise this vision.
“Policymakers, mining and oil and gas companies, education providers, and researchers need to work together to ensure Australia provides the right environment to thrive in an increasingly competitive globalised environment," he said.
The AlphaBeta report is based on 12 months of research conducted in 2018.
For more information visit: www.metsignited.org
