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NAB chief warns Australia risks falling into low-growth AI trap

NAB CEO Andrew Irvine told a business summit that Australia must act fast on artificial intelligence. Without urgent government and business action, Australia will lag other advanced economies. The country will get stuck in slow growth.

Why it mattersAI adoption affects whether Australia's economy grows or stagnates. The productivity gap costs ordinary workers real wages and job prospects. It also affects whether the central bank raises or cuts interest rates.

AustraliaThe government's push for AI adoption and mandatory data-centre power requirements will affect energy prices, technology investment and job growth across Australia. The National Cabinet decision on Wednesday will set policy direction.

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