Australians believe the energy sector would benefit most from innovation

GE has unveiled the results of its 2016 Innovation Barometer, which explores how business leaders and members of the public perceive the barriers to and opportunities for innovation in a complex global environment.

The research revealed that Australian executives (66%) and Australian informed citizens (72%) are optimistic about the next wave of innovation, and are excited (both 69%) about entering the ‘Fourth Industrial Revolution’. Australians think the energy sector is particularly ripe for innovation and that innovation in the sector could be the key to a more sustainable future energy landscape.

Over half (54%) of Australian citizens believe the energy industry would benefit more than any other industry from investment in new innovation approaches. 75% of the Australian public think innovation will improve energy efficiency, helping consumers use less and waste less energy. 40% think innovation could improve energy distribution, and 39% think innovation could lower energy costs.

“It is clear that innovation has moved to the top of the agenda for government, business and members of the public,” said Geoff Culbert, president and CEO of GE Australia, New Zealand and PNG. “We are all aligned on the fact that Australia must be more innovative. Our challenge now is to move from conversation to action.”

The global Innovation Barometer can be found at http://www.gereports.com/innovation-barometer/.