AI could boost growth without inflation: CBA

Increased use of artificial intelligence by businesses and bureaucrats could enable economic growth of up to 3 percent a year without fueling inflation by boosting the country’s poor productivity, according to the Commonwealth Bank of Australia.

Productivity, measured as gross domestic product per hour worked, rose 1 percent in the year to December, Australian Bureau of Statistics data released on Wednesday showed. It was the first significant improvement in the post-COVID-19 era.

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