Data and new digital technologies such as artificial intelligence present an opportunity to get Australia back on the path to productivity growth.

But we can only seize this opportunity with the right policy framework. Australia can unlock billions in economic value through strategic reforms to data access, artificial intelligence regulation, and digital infrastructure.

The Productivity Commission has released a report on Data and Digital Technologies, of which I am a co-author, to guide Australian policymakers to develop this framework. This is the third of five reports due ahead of the government’s reform roundtable later this month.

Our key recommendations include:

Artificial intelligence (AI) can extract useful insights from massive datasets in a fraction of a second. It could transform the global economy and speed up productivity growth by automating huge numbers of routine tasks.

Early estimates suggest AI could boost productivity by 0.5% to 13% over the next decade. That is potentially more than the combined productivity benefits from the 2004-14 internet and mobile phone revolutions.

Australian businesses are already embracing AI technology. From autonomous mining trucks to

© The Conversation