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Australia is well placed to capitalise on the global artificial intelligence boom due to its infrastructure, startup ecosystem, and construction of new data centres. A new report released this week by Microsoft expects the AI economy in Australia to generate $18.8 billion in revenue by 2035. Microsoft Australia and New Zealand Managing Director Steven Worrall joined Sky News business reporter Ed Boyd to discuss Microsoft's report.

Summary

The anticipated growth of Australia's AI economy, projected to reach $18.8 billion by 2035, highlights the country's strategic positioning to leverage the global AI surge. Underpinning this growth forecast are Australia's robust infrastructure, thriving startup ecosystem, and new data center developments. The report, produced by Microsoft, suggests significant economic opportunity but primarily focuses on financial prospects rather than directly addressing potential AI-related risks. While the discussion involves prominent figures such as Microsoft Australia and New Zealand's Managing Director, it lacks a detailed exploration of safety measures or governance frameworks necessary to mitigate potential AI risks.

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