Artificial intelligence (AI) will be “a defining influence” on Australia’s economy over the next 40 years, according to the Intergenerational Report (IGR) released by Treasurer Jim Chalmers on Monday. Australia is also expected to experience lower growth, a decline in the birth rate and unending budget deficits.
As Prime Minister Anthony Albanese makes AI a central issue of discussion during his current trip to the United States, the IGR emphasises the precise nature of the new technology’s impact will depend on how extensively it is adopted and Australia’s position in global supply chains.
