New research suggests that Australia's productivity collapse may have been caused by the reopening of the hospitality sector after COVID-19. Businesses with women on their boards are more likely to profitably adopt breakthroughs such as artificial intelligence. Despite recent improvements, the nation still faces challenges in improving living standards.
Australia ’s productivity collapse may have been due to the reopening of the nation’s hospitality sector after COVID-19 , new research suggests, as separate analysis shows businesses with women on their boards are more likely to profitably adopt breakthroughs such as artificial intelligence.
But the work by the Productivity Commission and economists at the Reserve Bank shows that despite an improvement in productivity in recent months, the nation still faces an uphill battle to improve living standards. Businesses with female directors or who have a background in STEM were more likely to profitably adopt new technologies such as AI.Australia’s productivity growth rate, along with most other developed nations, has been declining for most of this century. It has prompted fears that without new technological breakthroughs, Australians will have to work longer and harder if they are to remain among the world’s richest people.showed a 0.9 per cent lift in productivity through the September quarter, the first quarterly increase since the start of 202
Australia Productivity Collapse Hospitality Sector COVID-19 Research Women On Boards Artificial Intelligence Living Standards
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