Driverless cars set to steer Jetson-led boom

TECHNOLOGY will unleash economic benefits if Australia embraces the volatility of the future, Joe Hockey said yesterday.

DRIVERLESS cars, next-generation robots and 3D printers will boost living standards and unleash economic benefits if Australia is willing to embrace the volatility of the future, Joe Hockey assured the nation yesterday.

The Treasurer yesterday said business and consumers were using technology to create new business models and governments should help foster these changes rather than stand in their way.

In particular, Mr Hockey said, self-navigating vehicles would be “absolutely transformative” for elderly Australians who wanted to stay in their homes but who found it difficult to drive.

“You hop into the car, you press a button, it takes you to the doctor, takes you to the shops, takes you to the grandchildren,” he told Sydney’s 2GB.

INTERACTIVE: The InterGenerational Report

“There is credible evidence that suggests that by 2040, three-­quarters of the cars on the road will be driverless.”

Asked if he was “getting very Jetsons”, Mr Hockey pointed to video-conferencing software.

“When I was a little boy growing up, I would never have thought that I’d ever see Dick Tracy’s watch come into play,” he said.

According to the Intergenerational Report: “Technological ­advances, such as advanced robotics, 3D printing and self-navigating vehicles have the potential to unlock quality-of-life improvements.

“Government policy settings will be very important to helping individuals, businesses and governments take full advantage of opportunities from technological developments so that productivity growth is maintained, or even improved.”

Communications Minister Malcolm Turnbull urged Australians to “embrace the volatility” inherent in technological change.

“The Intergenerational Report, through every page, cries out for innovation, for science, for technology and for productivity,” he told parliament.

“Volatility has to be our friend not our enemy.

“The future is not something we proof ourselves against. It is something we embrace.”

However, ACTU president Ged Kearney criticised the report for emphasising technology, science and innovation while failing to mention government cuts, particularly to the CSIRO and skills and training.