Treasurer Jim Chalmers says AI central to raising productivity and lowering interest rates
Australian Treasurer Jim Chalmers has identified artificial intelligence as a key driver for improving national productivity and lowering interest rates. The government plans to integrate AI into its upcoming intergenerational report to address long-term economic stagnation.
Why it matters
Government policy on AI adoption is becoming a critical factor in national economic strategy and inflation management.
Jim Chalmers at the productivity roundtable last year. ( ABC News: Mark Moore )
Treasurer Jim Chalmers has given further insight into the government's approach to AI and details of his meeting with AI giant Anthropic.
He says it is central to the government's plans to increase productivity, but tech giants will still be subject to regulation and copyright controls.
The government will release its intergenerational report before the end of the year.
Link copied Share Share article Treasurer Jim Chalmers says artificial intelligence is central to his aim to turn around Australia's lagging productivity, which could ultimately help lower interest rates.
Productivity and real wages growth have been generally stagnant in Australia for more than a decade, with business investment also generally weak, albeit with recent signs that capital expenditure is starting to pick up.
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