Westpac CEO Anthony Miller Urges Jim Chalmers to Embrace AI for Productivity Boost as Federal Budget Nears
The Australian Financial Review
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Details
- Date Published
- 7 Apr 2026
- Priority Score
- 2
- Australian
- Yes
- Created
- 6 Apr 2026, 08:00 pm
Description
The CEO says boosting productivity could increase revenue without lifting taxes and produce more government services without a corresponding rise in spending.
Summary
Westpac CEO Anthony Miller advocates for the Australian government to prioritize the economic benefits and productivity gains of AI to enhance public services without increasing taxes. While acknowledging growing public anxiety and potential risks like job losses, Miller emphasizes that the technology serves as a critical unlock for national productivity during his pre-budget advice to Treasurer Jim Chalmers. The discussion focuses primarily on the economic upside and deployment of AI within Australian government and banking sectors rather than technical safety or catastrophic risk mitigation. This perspective highlights the ongoing tension in Australian policy between accelerating frontier AI adoption for competitive advantage and addressing emerging societal distrust.
Body
PoliticsFederalFederal budgetPrint articleRonald MizenPolitical correspondentApr 7, 2026 – 5.00amWestpac chief executive Anthony Miller says artificial intelligence could be the catalyst for a productivity boom, and the government should focus on the economic benefits, even amid growing public anxiety and distrust in the nascent technology.Miller said technology was one of the “classic unlocks for productivity” and, as the federal budget approaches in May, he urged Treasurer Jim Chalmers to “chase the opportunity and the upside” of AI, such as boosting government services without increasing spending, which would outweigh risks such as job losses.Loading...SaveLog in or Subscribe to 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 MoreFederal budgetAIWestpac Banking CorporationAnthony MillerTax reformProductivityJim ChalmersMatt ComynCommonwealth BankRBAAustralian economyFetching latest articles