These initiatives are part of the enormous changes in the economy being driven by the development and adoption of electronic commerce, information and knowledge sharing practices particularly through the Internet, around the world and in Australia. The global and domestic implications of which are being labelled - the 'information economy'. Technology is merely the enabler. But electronic commerce and the broader emergence of an information society is a major social and economic issue for Australia. And their existing customers will be vulnerable to the agile and interactive allures of online international competitors.
Speed is what has characterised the emergence of the information economy.
Fewer than 40 million people were connected to the Internet during 1996. By the end of 1997, more than 100 million were using the Internet. On present investment figures, the Clinton administration is forecasting one billion people will be connected to the Internet by 2002. Useage is even outstripping takeup. Traffic on the Internet has been doubling every 100 days.