
Australia is debating how best to harness artificial intelligence (AI) for economic growth, especially to boost its long-sluggish productivity. In their latest book, Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity, 2024 Nobel laureates in economics Daron Acemoglu and Simon Johnson challenge the notion that technology inevitably drives social welfare, contending that strong institutions and deliberate policy directions are just as important in shaping equitable outcomes.