Australia's Economic Outlook Sees AI as Key Driver, Snubs Crypto

Australia's new 40-year economic outlook has identified artificial intelligence as one of five major transitions expected to impact the economy, but surprisingly omits any mention of crypto.

The latest Intergenerational Report, published on Monday by the Australian Treasury, highlights agentic AI systems as significantly more capable, autonomous and widely used than humans in some areas. The other major transitions include geopolitical conflicts, an aging population, a shift to clean energy, and Australia's industrial transformation toward services.

Australia's prosperity over the next 40 years will depend on adopting new technology and lifting productivity, according to John O'Loghlen, Coinbase Australia country director. However, he notes that the report completely misses the financial infrastructure those agents will need.