Economic Impact Report: Turning Australia’s AI opportunities into impact with Google

Economic Impact Report: Turning Australia’s AI opportunities into impact with Google

Download the report here

Artificial intelligence (AI) is rapidly enabling solutions to the challenges we face in our lives. Australia is recognising the transformative power this technology will play in the country’s digital future, and the Government is responding by building a framework for our society to safely harness the benefits of AI.

At least seven out of 10 Australians see the role of AI in areas such as medical breakthroughs or climate change as important to society. However, managing AI’s rapid development will be a challenge. Two-thirds of Australians want stronger guardrails to make the design, development and deployment of AI safe. Finding AI solutions that are compatible with existing systems is among many barriers preventing businesses from adopting AI. Overcoming these challenges can unlock the potential of AI to make Australians healthier, more productive and to make the nation’s economy more sustainable.

This report further informs policy-makers by analysing the economic benefits of AI for Australia in three areas:

  • $280 billion of economic benefits are expected for businesses in Australia in 2030 if AI-powered products and solutions are adopted.
  • $6.7 billion of cybercrime losses prevented for Australia in 2030 if businesses deploy AI-powered cybersecurity capabilities.
  • $3.9 billion of property damage prevented through improved response to climate change-induced disasters in Australia in 2030 using AI-powered technologies.

The tech industry is key to developing the local AI ecosystem and Google has, for over 20 years in Australia, been a key partner. Collaborations are at the heart of Google’s work, as illustrated through the Digital Future Initiative where it partners with Australian researchers and organisations.

Google AI-powered products and solutions support large and small businesses to increase global reach, boost productivity, and support jobs. In 2023, Google Search, Google Ads, Google AdSense, Google Play, and Google Cloud helped provide $53.4 billion of economic activity for businesses. Google also supported 187,400 jobs by helping businesses expand through their use of Google products, with an additional 165,000 jobs supported by the Android app economy.

Google’s many products also make everyday tasks more convenient and accessible, whether it is searching the web for trusted information or trying to find the fastest travel route. In 2023, Google Search, Google Maps, Google Play, and Google Drive helped provide $18.2 billion of economic benefits for households.

Google also helps broader society, from keeping Australians safer online to helping to combat climate change. Google is using AI to detect and deter fraudulent online activity, better than ever before. In Australia, Gmail’s cybersecurity measures prevented $327 million worth of losses in 2023, while Google Play Protect blocked 8 million malware installations. AI also empowers Google Maps to track road traffic and suggest smarter routes. Our study finds that Google Maps saved over 900,000 tonnes of CO2 emissions in 2023, equivalent to taking 202,600 petrol cars off Australia’s roads.

AI is a force for positive change in society with many breakthroughs in health, economic, cybersecurity and environmental applications. To ensure Australia becomes a world leader in secure and resilient technology, collaborations between government, communities and industry partners become even more vital.

Download the report here

Report methodology

 

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