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Innovation Barometer

GE Global Innovation Barometer 2016: Pressure rises while optimism prevails

February 29, 2016
The planets are in alignment as GE’s fifth Global Innovation Barometer—the annual independent survey of international attitudes and approaches to innovation and disruption—hits the Australian news alongside the Federal Government’s determination to put innovation at the forefront of its agenda.
As we hurtle into the Fourth Industrial Revolution, characterised by change 10 times faster than the first, at 300 times the scale and with some 3,000 times the impact, how do the attitudes and approaches of Australian executives and informed citizens to this meteoric disruption compare with those of business communities in other countries?

The Global Innovation Barometer 2016 shows Australia’s overwhelming optimism, and one powerful reservation ...

Of the 109 Australian business executives and 106 members of the informed public canvassed in the survey, which was conducted on GE’s behalf by Edelman Berland during the last three months of 2015, 69% among both groups are excited about the new digital-industrial era—compared with 61% of execs and 65% of citizens globally. The Barometer shows that Australians believe in the power of innovation, and that 74% of Australian businesses have a clear innovation strategy in place.

At the same time, Australia scores extremely highly on the FOBO (fear of becoming obsolete) index, with 89% of business leaders believing that many businesses will face “digital Darwinism” due to disruption in coming years. Only Brazil, with a score of 90%, outdoes Australia (barely) in this anxiety.

This month GEreports digs deep into the Global Innovation Barometer, bringing you insights into the Australian psyche and executive thinking, and also calling on thought leaders throughout the community to discuss the issues raised:

From FOBO to Go, Go!


Never mind FOMO! The 2016 GE Global Innovation Barometer shows Australia is in the grip of a far greater anxiety, and that it’s cramping our ability to innovate. Here, four industry dynamos acknowledge the threat of FOBO—the fear of becoming obsolete—and offer catalysts to kickstart us out of inertia and into the 4th Industrial Revolution.  Read the story.

Why we all need to own the Innovation Nation


What’s the perfect mix for an innovation ecosystem? Four people in the thick of promoting Australian innovation offer their views on how we can best rocket-boost the ideas boom. Their unanimous advice: Collaboration is critical.  Read the story.

Australia's innovation optimists


The 2016 GE Global Innovation Barometer explores how our perception of innovation is changing in a complex, globalised environment; and how business leaders and informed citizens in each of 13 countries view the framework for innovation on their home ground. Take a look at some key Australian findings.  See the infographic | Download the report (PDF).

Join us in this crucial exploration, and subscribe to GEreports.com.au for exclusive data releases throughout March.
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