Australia's 40-Year Economic Outlook Recognizes AI, Omits Cryptocurrency

On September 22, the Australian Treasury released the "Intergenerational Report," listing artificial intelligence as one of the five major transformations for the economy over the next 40 years, but it did not mention cryptocurrency. The report noted that AI systems have significantly become more autonomous, powerful, and widely applied, with some benchmark tests surpassing human levels. The other four transformations include geopolitical conflicts, an aging population, the transition to clean energy, and the transformation of the service industry. John O'Loghlen, the National Director of Coinbase Australia, commented that the report indicates that prosperity over the next 40 years will rely on the adoption of new technologies and productivity improvements, but it did not mention the financial infrastructure needed for AI systems. Previous "Intergenerational Reports" also did not address digital assets. Nevertheless, the Reserve Bank of Australia has increased its focus on tokenized finance and upgrading financial infrastructure, with the Digital Finance Cooperative Research Centre estimating that digital financial innovation could bring an economic benefit of AUD 24 billion annually. The "Financial Innovation Strategy" report released by the Treasury on September 3 mentioned the connection between AI and financial infrastructure, stating that AI systems could increase automation and machine-to-machine trading, leading to greater demand for real-time, interoperable, and programmable payment systems.

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