Adopting these innovations takes time, because firms have to become familiar with the new technologies and change their business practices to take advantage of them. It wouldn't be the first time that the computers – or perhaps this time, the machine learning algorithms – were visible everywhere except in the productivity statistics for just this reason.
[7] Adopting new technologies and business models also requires a willingness to change. Just as views to protection can change, so can society's attitudes to risk, innovation and, thus, entrepreneurship. We saw, after all, that Australia's economic culture could shift from being inward-looking to outwardlooking over the course of a couple of decades.