Intergenerational Report: AI will reshape Australia's economy over 40 years
Economic growth will slow to 2% yearly over 40 years despite per capita income rising 55%.
Australia's economy will double by the 2060s, but growth will slow to about 2% per year, down from 3% now, Treasury says. Per capita income will rise 55%.
The report flags AI as key to the next 40 years, but its impact depends on how much we adopt it and our role in global trade. An older population will put pressure on the budget, but Australia is well-positioned to handle the challenges.
Prime Minister Anthony Albanese has emphasised AI during talks in the United States.
- 2%
- Projected annual growth
- 55%
- Per capita income rise
- 3%
- Historical annual growth
- 40 years to 2060s
- Report timeline
Why it mattersGrowth slowdown combined with ageing population means the budget will face ongoing pressure despite economic expansion.
AustraliaAustralians can expect lower wage growth and tighter public services unless AI adoption accelerates and government reforms succeed.
Corroborated bytheconversation.com
✓ Claims checked against the source and corrected before publish. checked 2 d ago
