CANBERRA, Nov. 21 (Xinhua) -- Harnessing Artificial Intelligence (AI) could supercharge Australia's economy by 235 billion Australian dollars (about 151.67 billion U.S. dollars) over the next decade, according to a report from the country's leading tech academy on Friday.
AI could lift Australia's gross domestic product by 6 percent to 8 percent over the next decade, adding between 160 billion Australian dollars (about 103.25 billion U.S. dollars) and 235 billion Australian dollars to the economy in 2034, said the report by the Australian Academy of Technological Sciences and Engineering and global consultancy Kearney.
This growth projection also includes a potential substantial upside if AI unlocks breakthrough innovations in areas such as healthcare, biotechnology, or robotics, it said.
The report warns that Australia is lagging in the race for AI investment and leadership, with other leading economies investing ten times more per capita in the enablers of AI sovereignty than Australia has.
Outlining a clear blueprint for AI investment, the report calls for creating a network of regional AI factories to connect talent, research, industry and government, and for population-scale AI training to ensure workers, particularly in small and medium-sized enterprises, gain the skills to use AI productively and safely. ■
