Artificial intelligence (AI) should help Australia achieve its long term productivity target, while having “profound” effects on the labour market.
These are among the conclusions of a detailed analysis of the economic implications of AI prepared by Treasury for Treasurer Jim Chalmers.
As of March, Australia had 162 operational data centres. Another about 130 centres are proposed, taking Australia to nearly 300 operating or planned facilities.
The government is preparing legislation to cover conditions including requirements for the centres on their energy and water use. Data centres will have to bring new renewable energy sources although at last week’s National Cabinet Minister Anthony Albanese agreed to give Queensland and the Northern Territory some flexibility on this.
While the Treasury analysis is generally positive, it is also hedged with uncertainty about the longer term implications of a technology that is still in its early stages.
