CBA chairman warns AI poses ‘geo-economic’ risk to Australia

Commonwealth Bank Chairman Paul O’Malley says Australia risks losing much of the value created by artificial intelligence to global industry leaders such as OpenAI and Anthropic as it accelerates its investment in the infrastructure and skills needed to keep up with the boom.

O’Malley warned that the dominance of large US AI companies poses a “geo-economic risk” to Australia and urged policymakers to regulate and tax them.

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