Investment in robotics offers significant economic benefits by driving productivity improvements and supporting the creation of high-quality jobs. Advanced robotics systems can enhance efficiency across various industries, leading to cost savings, higher output, and improved product quality. This, in turn, fosters economic growth by stimulating innovation and wealth creation across the economy.
The advantages of adopting robotics more widely across the economy are both evident and extensive. Robotics can boost the strength and sophistication of Australia’s manufacturing sector by supporting more advanced, efficient, and accurate production methods, helping local firms stay competitive on the global stage. In sectors like agriculture, mining, and healthcare, where skilled labour is often in short supply, robots offer a practical and scalable solution to the many labour market challenges facing those sectors. Supporting the growth of robotics will help build stronger industries and lay the foundation for a more innovative and resilient economy.
Australia’s first National Robotics Strategy (the Strategy), released in May 2024, identifies the future economic potential of robotics for the country. It sets out a clear and shared vision to develop and adopt robotics solutions, and outlines pathways to build a strong, unified robotics sector in Australia. The Strategy suggests that automation, including robotics, can increase annual productivity growth in Australia by between 50% to 150%. The Strategy also argues that a 1% increase in robotics could lead to a 0.8% increase in productivity across the whole of the economy, including by automating high-value manufacturing and enabling production at scale. Given the Government’s focus on boosting productivity, robotics offers a promising way forward.
