RBA v Treasury on AI, as Michele Bullock casts doubt on productivity recovery and data centre boom adds to inflation

Commonwealth Bank and artificial intelligence giant Anthropic are both tipping AI will deliver a productivity bonanza for Australia, aligning with Treasurer Jim Chalmers’ Intergenerational Report, which some have criticised as too optimistic in its long-term outlook.

But as Treasury tipped AI to help productivity recover within five years, Reserve Bank of Australia governor Michele Bullock said there was not yet clear evidence of AI tools boosting productivity and that benefits could be 10 years away.

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