Adoption of General-purpose Technologies (GPT) in Australia: The Role of Skills

Inside 65: The RBA Podcast

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General-purpose technologies (GPT) have the potential to transform how we work, to change the skills we need and to drive productivity growth. It is therefore important to understand the conditions that lead to the successful adoption of GPT.
In this episode, hear from Kim Nguyen on how she, and co-author Jonathan Hambur, used a novel database to assess the adoption of cloud computing and artificial intelligence/machine learning. They found the COVID-19 pandemic led to a short-lived surge in adoption of cloud computing technologies. They also found that profitable adoption is more likely to occur in firms where the Board has members with relevant technological backgrounds, and that firms adopting GPT are more likely to seek staff with related skills. These findings highlight the importance of workers’ and managers’ skills in technology adoption, and the impact this can have on productivity growth.

Guest

Economist Kim Nguyen

Additional Resources

Adoption of General-purpose Technologies (GPT) in Australia: The Role of Skills | Bulletin – September 2023 | RBA

9 episoder

#Government #Reserve Bank of Australia