AI could save us or destroy us. Too late now. We’re up to our eyeballs in it
Australia is experiencing a significant economic transformation driven by artificial intelligence and data center investments. Recent statistics indicate a record $6 billion spent on AI-related equipment in just three months, with overall spending soaring to $21.8 billion over the past year. This boom is expected to surpass the previous mining boom, with projections of a $350 billion pipeline for future data center projects.
- ▪Australia is in the midst of an AI infrastructure spending boom.
- ▪Businesses spent a record $6 billion on AI-related equipment in the first quarter of the year.
- ▪Total spending on AI and data centers increased by 84 percent over the past year.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.