NAB’s Andrew Irvine Says Australia Too Complacent on AI and Productivity, Risking Future
Australian Financial Review
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Details
- Date Published
- 2 Sept 2025
- Priority Score
- 3
- Australian
- Yes
- Created
- 3 Sept 2025, 03:52 pm
Description
Australia’s “economic miracle” is at risk unless its leaders take bolder action to reverse the productivity malaise, warns NAB boss Andrew Irvine.
Summary
The article highlights concerns expressed by NAB CEO Andrew Irvine about Australia's complacency regarding AI adoption and productivity. Irvine emphasizes the need for proactive action from business leaders and policymakers to harness AI for productivity gains, despite socio-economic concerns such as potential job displacement. This discussion is significant in the broader context of AI governance as it underscores the critical role leaders play in steering AI strategies that can impact national economies. While the article does not delve into catastrophic AI risks directly, it stresses the importance of embracing AI to safeguard economic futures and improve competitiveness on a global scale. It serves as a crucial call to action within Australian AI policy discourse.
Body
CompaniesFinancial ServicesInnovationPrint articleJames EyersSenior ReporterSep 3, 2025 – 12.20pmSaveLog inorSubscribeto save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?LoginNational Australia Bank chief executive Andrew Irvine has issued a rallying cry to the nation’s business leaders and policymakers, urging them to drop any complacency and fear about the future and take action to fix the productivity bottlenecks plaguing the economy.In front of about 400 of the bank’s business customers at a NAB event in Melbourne, Irvine called on the audience to embrace artificial intelligence, despite fears over jobs, to drive productivity and economic growth.Loading...James Eyerswrites on banking, finance, payments, regulation and emerging technologies. Based in Sydney, he is a former legal and investment banking editor at the AFR and has been a business journalist for more than 20 years.EmailJamesatjeyers@afr.com.auSaveLog inorSubscribeto save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreFetching latest articlesDion Lee lost his business. He’s backLauren SamsThe one dish worth $1.4m a year to this iconic Sydney restaurantThe CEO who found her mojo when she demoted herselfWhy PwC’s CEO spends every Sunday on AI ‘homework’Hannah TattersallWe’ve run a 4-day week for years. Here’s what nearly killed itThe surprisingly simple dish this top chef eats for breakfastIs this the world’s most accurate mechanical watch?1 hr agoLuke BenedictusThe fashion designer who lost her job and found her dreamWhy the world’s biggest marine company bought a Byron Bay start-upPratt settlement keeps Waislitz in control of Thorney empireMax MasonPub king Arthur Laundy has a court double date‘I’m going to f--- you through the courts’: Inside Tony Denny’s world