Increased use of artificial intelligence by businesses and bureaucrats could allow the economy to grow as much as 3 per cent a year without fuelling inflation by lifting the nation’s poor productivity, says the Commonwealth Bank of Australia.
Productivity, measured as gross domestic product per hour worked, rose 1 per cent over the year to December, data from the Australian Bureau of Statistics released on Wednesday showed. It was the first meaningful improvement in the post-COVID-19 era.
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