Australia Flags AI Shift in Economic Plan, Leaves Out Crypto
Australia's latest Intergenerational Report highlights artificial intelligence as a major economic transition over the next 40 years.
The report, released by the Australian Treasury on Monday, identifies five transitions expected to have a profound impact on the country's economy: geopolitical conflicts, an aging population, a shift to clean energy, industrial transformation toward services, and new technology driven by artificial intelligence.
The report describes agentic AI systems as having advanced rapidly, becoming significantly more capable, autonomous, and widely used. These systems have even surpassed human-level performance on some benchmarks, positioning AI not just as an incremental tool but as an operational shift that could change how economic activity is organized.
Coinbase Australia country director John O'Loghlen criticized the report for failing to address the financial infrastructure needed for AI-driven agents. He noted that previous Intergenerational Reports have not addressed digital assets, suggesting the new omission is consistent with a longer pattern rather than a one-off oversight.