Robotics and Automation to Boost QLD Economy

In the coming decade, the new robot economy could transform Queensland industry, productivity and quality of life in ways not before imagined, a new report indicates.

The Queensland University of Technology (QUT) partnered with the Australian Centre for Robotic Vision to commission an independent report from Synergies Economic Consulting.

The Robotics and Automation Advantage for Queensland report and summary document show how Queensland can harness the benefits of and adapt its workforce to the new robot economy.

The report stated that in the best-case scenario, Queensland stands to reap the benefits of more than 1.1 million new jobs, equating to an $117.5 billion boost to Gross State Product (GSP).

This is dependent on a high striker approach of ‘managed’ rapid uptake (2 per cent p/a growth of GSP attributable to robotics and automation), backed by the full weight of government and private sector support.

The faster Queensland embraces robotics and automation, the greater the benefits to GSP and net job creation, the report explained.

Importantly, the more rapid the growth, the greater income effects and capacity for new technology to alter rather than replace jobs.

For more information:  http://www.manmonthly.com.au/+robotics+automation+queensland+