The reality of zoonotic pandemics and recovering from them is certainly with us in 2020, and while it will take time to move on from the aftereffects of COVID-19, Australian government agencies Commonwealth Scientific and Industrial Research Organisation (CSIRO) and Austrade have said digital initiatives could allow Australia to recover.
"A generation of Australians will train, work, and live in an economy primarily concerned with rebuilding and recovering from the COVID-19 shock. This will characterise government policy and industry strategy," the agencies said in the Global trade and investment megatrends report released on Monday.
"Even though the economic conditions are extremely challenging there are good reasons why the Australian and global economies can bounce back. We can achieve the roaring twenties again in the 2020s."
The report listed a number of actions to help recovery, the first of which is using data science, machine learning, predictive analytics, and natural language processing to boost trade and investment. Using these technologies would allow for a "more tailored and granular analysis" of trade opportunities and ensure recent data is used, the report said.
"Machine learning and AI can be used to help an Australian company determine which export markets are best aligned to their products and services," the report said.
"Attempting to export into the wrong market can be a costly error. However, exporting into a high demand and rapid-growth market with few competitors can be extremely lucrative."
Much of the report was concerned with attracting research investment from overseas -- perhaps a tacit acknowledgement of the federal government ripping money[1] off the tertiary education sector -- while also saying the country needed a campaign led by Austrade and co-ordinated between universities, research organisations, industry, and state and federal agencies that could