A government frontbencher advises caution when using the Chinese-owned AI chatbot DeepSeek. Despite a positive economic outlook with the possibility of a 'soft landing', challenges remain, including business insolvencies, mortgage stress, and the housing crisis. The government is monitoring inflation data closely, hoping for a rate cut before polling day.
A government frontbencher has encouraged Australia ns to "be careful" if they download the Chinese-owned AI chatbot DeepSeek. Australia 's economy is faring better than expected but living standards will not recover to pre-pandemic levels until 2030, according to a fresh report bythis morning. She said reiterated Australia had a "real posibility" of a "soft landing".
However, it cited challenges such as business insolvencies, mortgage stress, the housing crisis as key reasons why Australians' purchasing power would lag over the next five years.All eyes will be on the latest inflation data set to be released this morning and whether it gives the Reserve Bank enough reason to cut interest rates next month.
"As we're putting our budget together, it's on the 25th of March, obviously, we are mindful of the economic conditions, how people are feeling … and whether there are any further responsible decisions we can take then can assist households as we navigate this time," she says.
AI Chatbot Deepseek Australia Economy Inflation Interest Rates Government Policy
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chinese AI Startup DeepSeek Rocks Markets with Low-Cost ModelA newly launched Chinese AI model, R1, developed by DeepSeek, has sent shockwaves through global markets due to its impressive capabilities achieved at a fraction of the cost of leading US AI models. The revelation has sparked concerns about the dominance of American tech giants and prompted a reevaluation of investments in the AI sector.
Read more »
Nvidia Plunges on Fears of Chinese AI Competitor DeepSeekNvidia's stock price plummeted by 17%, wiping out a record $600 billion in market value, fueled by investor concerns over the emergence of DeepSeek, a Chinese AI startup offering comparable performance at a fraction of the cost. The selloff rippled through the tech sector, impacting major indexes like the S&P 500 and Nasdaq 100. DeepSeek's open-sourced AI model challenges the dominance of Western companies and raises questions about the return on investment for heavy AI spending.
Read more »
Nvidia Plunges as Chinese AI Startup DeepSeek Shakes Investor ConfidenceNvidia's stock price plummeted over 17%, wiping out $600 billion in market value, after investor concerns about the emergence of a low-cost AI competitor from China. DeepSeek's open-source AI model has sparked fears that US tech giants may have overinvested in AI development.
Read more »
Chinese AI Chatbot DeepSeek Shakes Tech MarketsInvestors reacted negatively to the emergence of DeepSeek, a Chinese chatbot rival to ChatGPT, leading to significant declines in US tech stocks. DeepSeek's success in developing a powerful AI model using less expensive chips raised concerns about US tech dominance and prompted questions about the sustainability of heavy investments in AI infrastructure.
Read more »
DeepSeek: Chinese AI Challenger Emerges as Cost-Effective AlternativeDeepSeek, a Chinese AI company, is making waves with its cost-efficient AI model, achieving performance comparable to OpenAI's GPT models at a fraction of the cost. The company's innovative approach and access to cheaper computing resources are raising eyebrows in the AI industry, particularly after its chatbot surged in popularity on Apple's App Store. DeepSeek's success challenges the narrative that achieving advanced AI requires massive investments in computing power and infrastructure.
Read more »
DeepSeek: Chinese AI Startup Challenges Global Tech Giants with Efficient, Open-Source ModelsDeepSeek, a year-old Chinese AI startup, has made waves in the tech world with its innovative open-source AI models that rival industry leaders in performance while reportedly requiring significantly less computational resources. The company's mobile app, which articulates its reasoning before responding to prompts, has skyrocketed to the top of app stores in multiple countries.
Read more »