Australian policymakers are “guilty of underestimating” the changes that will occur with rapidly changing technologies and artificial intelligence, according to one of Queensland’s top business leaders.
Lance Hockridge, former chief executive of national rail freight company Aurizon, warned a Brisbane meeting that the rapid pace of technological change will “take us into new directions far more quickly than we anticipate”.
“I believe that we will see a situation where very many of our business models, some of which have been around for decades and longer, will be under pressure—indeed, if not disappear,” the told the Queensland University of Technology business leaders forum.
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