Australian 40-year economic outlook recognizes ‘AI revolution,’ omits crypto
Treasury named AI among five major transitions expected to reshape Australia’s economy, while Coinbase says the report overlooks the digital financial infrastructure AI agents could eventually need.
Treasury named AI among five major transitions expected to reshape Australia’s economy, while Coinbase says the report overlooks the digital financial infrastructure AI agents could eventually need.
Australia’s new 40-year economic outlook has identified artificial intelligence as one of five major transitions expected to have a profound effect on the economy, while leaving out any mention of crypto.
The latest Intergenerational Report, published on Monday by the Australian Treasury, described agentic AI systems as having become “significantly” more capable, autonomous and widely used — surpassing human-level performance on some benchmarks. The other major transitions are geopolitical conflicts, an aging population, a shift to clean energy and Australia’s industrial transformation toward services.
Previous Intergenerational Reports also have not addressed digital assets. The latest omission came despite the Reserve Bank of Australia increasing its focus on tokenized finance and financial infrastructure upgrades earlier this year, while the Digital Finance Cooperative Research Centre estimated digital finance innovations could generate 24 billion Australian dollars ($17.1 billion) in annual economic gains.