The intergenerational report also said Australia was well-positioned to benefit from AI but its impact on many industries - such as the labour market - were too early to forecast. The economic and social implications of AI are expected to be profound but the specific impacts will depend on the evolution of the technology, how deeply and broadly AI is adopted, and how it will be used. Australia is a leading destination globally for data centre investment and has seen a near doubling of capital expenditure in this area since the 2023 IGR.
Albanese on Sunday said he backed a global framework on the rollout of AI, comparing it to historical world-changing technologies, like nuclear weapons. We want to see cooperation. We’ve seen that in the past with new technologies, even on nuclear weapons, for example, we saw agreements and protocols put in place through the nuclear non-proliferation treaty.
So I think we want to see progress between those two countries, but … I think middle powers such as Australia have a role to play here as well. The prime minister will spend the week in New York City for a United Nations climate summit, where he will also hold talks on global conflicts and AI.
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