Australia’s comprehensive relationship with the United States is vitally important for our nation’s economic wellbeing and security. It has been shaped by shared history, democratic systems, values, cultural ties and common interests.
But what will that relationship look like into the future? Where will our economic and commercial connections and complementarities lie in a rapidly changing world?
KPMG is delighted to partner with AmCham on this report series over the next 18 months which identifies and profiles six industry sectors which we believe will shape the future economic relationship between Australia and the United States for the next 50 years.
Six areas of focus
Artificial Intelligence – the integration of various technologies which enables machines to learn and produce information output by either thinking and acting like a human, or by exercising original and independent intelligence that is distinct and dissimilar from human thought and behaviour.
Biotechnology – the application of biological processes for industrial and other purposes, especially the genetic manipulation of microorganisms to produce antibiotics, vaccines, hormones, agricultural resources, and products that advance health, commercial and production capabilities, and public safety.
Digital economy – global network of economic activities, commercial transactions and professional interactions enabled by information, computer, and communications technologies. It is characterised by the creation and sale of safe and secure technologies for creating internet and mobile transactions, as well as new consumer and business-facing digital services.
Energy and Clean Technology – energy derived from renewable, low or zero-emissions sources, as well as energy saved through energy efficiency measures. These typically include non-fossil fuel sources of energy such as hydro, wind, solar, natural gas, and nuclear power, as well as advanced and emerging technologies predicated on preserving and storing energy, as well as reducing the cost and increasing the accessibility of these sources of power.
Quantum Computing – the search for the minimal amount of physical property involved in fundamental interactions. It includes quantum computing, quantum physics, and quantum mechanics. For these reports, it includes the application and use of phenomena to create new and faster ways of computing and manufacturing, which enables operations to be undertaken at speeds exponentially higher than possible with conventional technologies, while often necessitating less energy consumption.
Space industry – the full range of technological, manufacturing and operation activities, as well as the use of natural resources, that create value, foster new discoveries, and provide benefits to human beings while exploring, understanding, managing, and utilising the realms beyond earth’s atmosphere.