"The decision to co-ordinate Australia's policy approach to artificial intelligence in the Prime Minister's department is sensible given the economy-wide opportunities and challenges the rapid advances in digital technology are presenting for productivity, employment, investment, energy, land use and infrastructure. The need now is for the Government to make quick and clear decisions about its appetite to embrace the possibilities that are before the economy and communities," said Innes Willox, Chief Executive of the national employer association, Australian Industry Group.
"The reality is that artificial intelligence will impact virtually every aspect of Australian life ranging from the way we work, to the need for critical minerals for semiconductor-conductors, microchips and processors to supply data centres which are estimated to globally see more than $10 trillion in investments by 2030. The Government needs to send a signal across all these areas whether it will employ a heavy or hidden hand when it comes to the regulatory environment that employers, providers and investors will face.
"The adoption of artificial intelligence is a whole-of-economy enterprise. While Australia is currently relatively slow with adoption of artificial intelligence compared to many of our competitors and trading partners, it is already reshaping how businesses operate, innovate and care for their people. The pace of change is only going to accelerate as artificial intelligence becomes more embedded in business practices and as supply chains evolve. Over-regulation would only diminish Australia's competitiveness, productivity and comparative advantages at a time of significant opportunity to drive growth and improve living standards.
"The Government also needs to determine how open Australia is to data centre investment at a time of rising community concern about their impact on the energy grid, water resources, amenity and land use. That investment will go elsewhere if it is not made to feel welcome but data centre operators also need to demonstrate broader community benefit from their infrastructure builds. The Government's policy approach will determine how much of the rising data centre investment Australia will receive.
"There also needs to be a lift in the frequency and quality of innovation collaboration between Australian businesses and our substantial capabilities in scientific research to improve competitiveness and open new commercial opportunities. A proper focus on developing the skilled workforce is required across the economy to take advantage of our changing needs.
"These are complex issues and a proper coordination of Government policy at the federal as well as state levels is necessary to provide employer, investors and community certainty. We look forward to continuing to work with the Government and others on developing the best possible policy settings and frameworks to allow Australia to prosper in rapidly changing times.
"The imperative is for the Government to act with urgency to give Australian businesses the confidence to invest in artificial intelligence for long-term improvements around processes, safety and performance," Mr Willox said.
How Australian Industry Group members are using AI to boost productivity:
Artificial Intelligence: Positive for companies, their people, and Australian Industry
