Vocational Education in a Knowledge Economy

EDUCATION IN A KNOWLEDGE ECONOMY

THE SOUTHERN CROSS THE COALSACK ALPHA CENTAURI

Fourth Industrial Revolution | Cyber Physical Systems

Tertiary Education Challenge Our existing University and Vocational Training constructs are currently not structured to support a shift towards a knowledge economy Three Fundamental Challenges: What we are teaching How we are teaching How we are approaching innovation

What We Teach Needs to Change Lessons from Canada and Australia

Australian Bachelor Student Employment Outcomes Bachelor student employment outcomes are at historic low levels In 2016, only 66.1% of bachelor students are expected to be in full time work within four months of graduation – but not necessarily in occupations relevant to their field of study

A New Foundational Knowledge Base Business Acumen Analytics Financial systems Design Thinking Engineering Rapid Protyping Information Systems

Underlying Competencies for the 21st Century Complex Problem Solving Critical thinking Creativity People Management Coordinating with Others Emotional Intelligence Judgement and Decision-making Service Orientation Negotiation Cognitive Flexibility Complex Problem Solving Coordinating with Others People Management Critical thinking Negotiation Quality Control Service Orientation Judgement and Decision-making Active Listening Creativity Source: Future of Jobs Report: World Economic Forum

How we teach needs to change

21st Century Education Model Transdisciplinary Interdisciplinary Students undertake real world problems or projects, students apply knowledge and skills from two or more disciplines and help shape the learning experience. Multidisciplinary Students learning concepts and skills from two or more disciplines that are tightly linked so as to deepen knowledge and skills. Disciplinary Students learning concepts and skills separately in each discipline but in reference to a common theme. Students learning concepts and skills separately in each discipline.

Innovation Innovation is arguably the single greatest opportunity and risk facing Australia’s capacity to thrive in a 21st Century global knowledge economy.

A DIFFERENT APPROACH TO INNOVATION New Capabilities Complex Problem Solving Critical Thinking Integration Synthesis Creative Thinking Collaboration Emotional Intelligence Negotiation Cognitive Flexibility Broader Knowledge Business Acumen Analytics Financial systems Design Thinking Engineering Supply Chain Logistics Information Systems Rapid prototyping WHAT IS THE OPPORTUNITY Emerging Technology Existing IP Analytics Research Partners & Resources

Open Source Innovation - Single Biggest Asset Australia has the lowest level of patent protection of all G20 countries Historically – 92% Last 5 years – 97% Bangladesh has one of the lowest level of patent protection globally Historically - 71 patents out of 88 million 0.0000008% $2 Trillion of IP across the WTO Its only an asset if we know how to discover the IP and then know how to integrate and synthesize

Thank you