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Productivity

Yesterday

The case against nuclear energy is convincing

Readers’ letters on the CSIRO’s latest assessment of nuclear power, antisemitism, big business and productivity, and safeguarding essential food supplies.

This Month

Public sector to blame for Australia’s poor productivity

Australia’s economic story has become dominated by public rather than private activity as politicians spend crazy amounts of money to buy votes.

  • Christopher Joye
Charter Hall’s David Harrison said the opening of new CBD metro stations would mean fewer companies working out of North Sydney.

Australia is now an economic ‘problem child’: McKinsey

Business investment is at recession levels as the country’s productivity growth slumps to 30th out of 35 rich countries, says a new report.

  • John Kehoe and Michael Read
Neither leader seems interested in the 20-year picture on the economy.

This is the problem that CEOs have with GDP

Another tepid set of growth numbers will heap more pressure on the government. But it’s the next 20 years that both sides of politics need to think about.

  • Updated
  • James Thomson

November

CBA prepares for AI to transform banking, with dozens of uses

The country’s biggest bank is already using AI to resolve 15,000 payment disputes every day. And its chief executive, Matt Comyn, says many more uses are on the way.

  • James Eyers and Lucas Baird
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John Riccio of Endpoint.

This ex-big four partner has automated his LinkedIn posts

An AI-driven tool helps former big four consulting partner John Riccio take only about five minutes a week to create and schedule five LinkedIn posts.

  • Edmund Tadros
NAB chief financial officer Nathan Goonan appearing virtually at the CFO Live summit on Tuesday.

NAB executive warns of ‘elusive’ productivity gains in age of AI

Finance executives have been circumspect about the transformative power of the new technology, suggesting return on investment should be the focus.

  • James Eyers
It is widely accepted that the Hilmer reforms contributed to a sustained productivity boom in Australia, underpinning significant increases in real wages.

Hilmer reforms of 1990s helped lift productivity. We can do it again

Fred Hilmer’s reforms were groundbreaking because a series of small changes had a massive cumulative effect. With changes to competition policy, we could lift Australia’s GDP by up to $45 billion a year.

  • Danielle Wood and Alex Robson
ASIC chairman Joe Longo wants to tackle Australia’s ‘legislative porridge’.

Why our top corporate regulator wants less regulation

ASIC chairman Joe Longo says complex regulation is hurting businesses, consumers and the regulator’s work. It’s another window into Australia’s productivity problem. 

  • James Thomson
Office property, particularly in Sydney and Melbourne, could benefit from the coming boom in AI-related jobs.

AI job growth to fuel demand for 480,000sq m of office space: report

JLL research suggests that by 2030, artificial intelligence will become the second-largest sector in the Australian economy, offering opportunities for office landlords.

  • Michael Bleby
Shaneen Marshall, chief of technology and strategy at Zurich Financial.

AI gets real as big business finds its feet

An era of cautious, low-stakes experimentation is rapidly giving way to tangible changes in how some of Australia’s largest operations run.

  • Paul Smith
Former sex discrimination commissioner Kate Jenkins.

Lack of action on workplace harassment holds back productivity

Readers’ letters on the impact of anonymous harassment reports; the need for flexibility in the super system; fee-free university; Trump’s inflation danger; working-class voters; and climate obligations.

Paul Scurrah.

The mantra that keeps this CEO ahead of the game

Former Virgin CEO Paul Scurrah reveals how he avoids distractions, what he has learnt from the collapse of two airlines and why he doesn’t eat until midday.

  • Sally Patten and Martin Peralta
If you’ve been wondering why services sector inflation in Australia is running at 4.6 per cent while goods inflation is at 1.4 per cent, Baumol’s cost disease is the answer.

How a 5¢ Tesla explains the problem with inflation

A fundamental economic truth explains ever-rising services inflation and why it’s a big problem for governments.

  • Richard Holden

October

A grocery store displays a QR code for digital payments in Bengaluru, India.

Time to catch up with QR code payments

Readers’ letters on a better way to pay; productivity in the mining industry; benefits of new merger laws; Japan’s gas demands; and a true Whyalla wipeout.

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The Future Made In Australia program is not going to transform the economy, only a small corner of the mining industry.

Why mining lies at the heart of Australia’s productivity problem

Australia badly needs to diversify towards more productive industries. The politically privileged position of the mining industry is one of the obstacles.

  • Adrian Blundell-Wignall
Distractions in the office affected productivity, researchers found.

Office distractions hinder workplace productivity: study

Fewer distractions and better supervision have emerged as critical ingredients to driving better productivity returns from hybrid working.

  • Tom Burton and Euan Black
The report from the e61 Institute finds that productivity across the care economy has not increased in almost two decades.

NDIS is sucking in workers from more efficient jobs

Flatlining growth in the care economy and surging spending on the National Disability Insurance Scheme is threatening to make households poorer.

  • Michael Read
Economist Friedrich Hayek and his famous book.

This book changed the world. The West needs to read it again

More than three-quarters of a century after Friedrich Hayek faced trenchant opposition, the ideals he championed must be fought for once more.

  • Tom Switzer
Ben Johnston, founder of digital agency Josephmark, and Mindhive co-founder Bruce Muirhead “see a future where our digital clones do our work”. 

This AI agent can spare you inconvenient meetings by deputising

Mindhive has developed AI-enhanced avatar software that allows users to create digital ‘twins’ of themselves to stand in when they are unavailable.

  • Alexandra Cain