The Morrison Government is strengthening Australia’s position as a leading digital economy by launching a new training program designed to lift the digital literacy of company directors.
The Digital Directors Training Program will be delivered by the Australian Institute of Company Directors (AICD), and comprises 10 online modules that cover topics such as digital investment strategy, digital transformation, and modern competitive business practices.
The training program is part of a broader $22 million digital business package, which includes additional support for small business through an expansion of the Australian Small Business Advisory Service’s Digital Solutions program.
Minister for Science and Technology Melissa Price said a 2019 study by the AICD found that just 3 per cent of board directors had a digital background.
“Through the training program, the Government hopes to lift that figure significantly,” Minister Price said.
“The COVID-19 pandemic has accelerated digitisation across the economy.
“To help cement these gains, Australia needs digitally-skilled leaders at the helm, steering their business into our digital future.
“As a graduate of the AICD, I want to see more Australian businesses investing in technology so they can increase their competitiveness and productivity, increase connectedness with consumers and create new jobs in high value areas.”
Angus Armour, Managing Director and CEO of the AICD, said every director has a responsibility to educate themselves on innovation, technology and disruption.
“Our research shows that directors recognise the need to increase their skills in this area, and this applies equally to the directors of small companies and charities as it does to the directors of our largest listed companies,” Mr Armour said.
“This training program will help more directors understand technology’s impact on their business, how it can drive their competitiveness, and generate new growth opportunities.”
To maximise the training program’s reach, the AICD will share the content with peak industry bodies, including the Business Council of Australia (BCA).
BCA CEO Jennifer Westacott said a new training package to lift the digital capabilities of local business leaders will be critical to modernising our economy and will make us more resilient to cyber risks.
“Having the right skills at all levels will mean businesses can keep creating new jobs and services for Australians,” Ms Westacott said.
More details on the program can be found here: www.aicd.com.au/digital-directors