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THE INFORMATION & COMMUNICATION TECHNOLOGY (ICT) MARKET AND THE AUSTRIAN ECONOMY

An internationally competitive Austrian economy needs sound, successful and internationally active ICT companies. Austrian enterprises as well as public institutions should have access to ICT know-how within our own country. If ICT know-how were to disappear entirely, the value creation of Austrian companies would also quickly move abroad, causing Austria to become less competitive.

Justification

By 2020, the strategic importance of ICT within every enterprise (within processes, applications and communication) will be so high that every manager will have to be a kind of “ICT manager” and every company will in this sense be an “ICT business”.

The digital revolution enables new business models, new information and communications structures and innovative data models. The transition could even be more rapid and radical than expected, and it will impact every company and industry.

ICT is everywhere and connects all key processes inside and outside a company. If ICT cannot be provided with our own resources (internal company resources and/or resources provided within Austria), the Austrian economy will deprive itself of important opportunities and potential competitive advantages.

The effects become particularly apparent in consideration of the concept of “Industry 4.0”, which refers to the fully digitalized industry that will exist when the digital revolution is complete. This example is also representative of all other sectors.