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The battle for AI sovereignty. Has Australia already lost?
Kim Winger...
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Don't pay so you can read it.
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BECOME A SUPPORTER
The battle for AI sovereignty. Has Australia already lost?
Kim Wingerei
|
May 30, 2026
|
Economy & Markets
Latest Posts
Photo by
Steve A Johnson
Unsplash
Australia has a history of letting global corporations extract value from our resources while leaving the public to carry the costs. With artificial intelligence, that could be a disaster.
Kim Wingerei
reports.
The gas export boom was sold as a national windfall, yet the reality has been starkly different. Foreign companies structured profits offshore, paid little or no
company tax
, and are leaving Australians with the environmental damage. No sovereign wealth fund was built, no lasting dividend secured, and households were left exposed to price shocks.
That experience should serve as a warning, because with artificial intelligence, the risks could be even greater.
Gas – at least – created some jobs and government revenue,
meagre ($)
though the Petroleum Resources Rent Tax has been. AI promises “productivity gains,” but in practice could hollow out the labour market, destabilise housing, and erode the tax base.
The gas ripoff. Japan collects more on our gas than we do
The resource being extracted this time is not gas – it is human labour and knowledge itself. And sure, specific applications of AI could advance the boundaries of science and medicine and deliver universal benefits.
Productivity at any cost?
However, when politicians and executives talk about productivity, they rarely seem to ask the harder question: productivity at what cost?
Productivity divorced from shared prosperity is a mirage.
If AI reduces labour demand and displaces professionals – as
many predict
– the supposed gains risk collapsing under their own weight. Who will buy the goods and services? What will that do to personal and company tax receipts? Who will pay the mortgages?
采集时间: 2026-05-30 20:16:46
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