This report, a collaboration between Microsoft and the Tech Council of Australia, highlights the substantial economic opportunity of Generative AI (GAI) for Australia. By 2030, GAI has the potential to add tens of billions to the economy, powered by deep neural networks such as Large Language Models (LLMs). GAI enables the creation of novel content and contributes to automation, data comprehension, and analysis. The technology can drive economic value through two main channels: improving existing businesses (through productivity and quality gains) and creating new products and services. The report emphasizes the importance of Australia embracing GAI to remain competitive in the global market and drive economic growth.
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