Key facts
- Australia's Treasury released a 40-year economic outlook identifying artificial intelligence as a major transition.
- The report did not mention cryptocurrency.
- Coinbase criticized the omission of digital financial infrastructure needed for AI agents.
- The report cited agentic AI systems as becoming significantly more capable and widely used.
- Other major transitions identified include geopolitical conflicts, an aging population, a shift to clean energy, and industrial transformation.
Australia's Treasury has identified artificial intelligence as one of five major transitions expected to significantly impact the nation's economy over the next 40 years, according to its latest Intergenerational Report. The report highlighted the increasing capabilities and widespread use of agentic AI systems, which have surpassed human-level performance on some benchmarks. The other key transitions noted are geopolitical conflicts, an aging population, the shift to clean energy, and Australia's industrial transformation towards services.