This advent of “cyber-physical systems” represents new ways in which technology has embedded itself within societies and even our human bodies. It affects many aspects of business, society, and even day-to-day life in a significant way. In fact, technology is now in the hands of everyone. Who among you remember the car-based mobile phone service of PLDT in the mid-80s?
Before that, in 1979, there was the problem at Bank of Adelaide, and both countries have experienced fringe financial institution failures. None of this makes Australia and New Zealand unique. It is easy to find other countries that have experienced banking system difficulties that were even more serious.