News in brief… 25 August 2025

Australian R&D spending on AI more than doubled over 2023-24: ABS; Farm lending rose in 2023-24 as average interest coverage ratio rise to decade high; ATO warns Next 5,000 private groups with overdue lodgements; United States and European Union announce trade framework agreement.

Australian R&D spending on AI more than doubled over 2023-24: ABS In 2023-24, spending on research and development (R&D) for artificial intelligence (AI) grew 142 percent since 2021-22, according to the Australian Bureau of Statistics’ (ABS) latest data on Australia’s Business Expenditure on R&D. According to the ABS, Business Expenditure on R&D grew by 18 percent to $24.4 billion in 2023-24, with the strongest growth in R&D seen in the Information and computing sciences r...

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Published Date: 25 August 2025