AI and Australia’s data centre boom
AI is seeing a huge growth of investment due to stagnant growth in the global economy generally. It is largely an attempt by industrial monopolists to lower the cost of production and remain competitive as the global market marches towards decline. The short-sighted nature imposed by private ownership and competition leads our economic overlords not to actually solve the crises, but to put off the effects until a later date, ‘kicking the can down the road’. Contradictorily, the massive investment undermines the very consumer base these profits are realised from by cutting jobs in the pursuit of profit and thus reducing the purchasing power of the average worker, not to mention the inflation eroding real wages due to its lack of meaningful use to the economy. AI and Australia’s data centre boom
