The government should extend the review process deadline to July 2025, according to the premier organization in Australia that represents the communication and technology industry.
In response to cries for Australia to enhance its competitiveness in the rapidly expanding artificial intelligence sector, the government will be formulating a National AI Capability Plan as part of its efforts to develop the industry.
Ed Husic, the minister for industry and science, announced in a statement on December 16 that the plan would evaluate methods to fortify the nation’s AI ecosystem by promoting innovation, inviting investment, and upskilling the workforce.
“This strategy will aim to leverage our AI expertise to fortify our critical infrastructure and safeguard our supply chains,” he stated.
Husic stated that the government agency will evaluate the effectiveness of current state and federal support mechanisms in helping or hindering Australia’s AI industry as part of the review.
The review will also examine methods for enhancing AI literacy and upskilling the local workforce through training and retraining. Simultaneously, Husic stated, there will be an emphasis on the identification of research and innovation areas in both universities and enterprises.
The Australian Government Department of Industry, Science and Resources reports that there are approximately 650 AI enterprises in the country at present. Hundreds of billions of dollars are anticipated to be contributed to Australia’s GDP annually by AI and automation by 2030.
The aim is to complete the National AI Capability Plan by the end of 2025, following a public and targeted consultation period.
Nevertheless, there are those who contend that the timelines are excessively lengthy for the rapidly expanding industry, which is projected to reach a global value of $826 billion by 2030, as reported by Statista.
According to Simon Bush, CEO of the Australian Information Industry Association (AIIA), the nation’s foremost organisation that advocates for the communication and technology sector, the National AI Capability Plan is a positive development; however, the timeline should be expedited.
Bush stated in a statement on December 16 that the review should be completed by July 2025. He stated that the current review would likely result in funding not being received until at least 2027, which is “an excessively long period of time to wait in the rapidly evolving AI landscape.”
“Australia has been a sluggish adopter of AI across its economy by global standards due to adoption concerns and anxieties,” he stated.
“Australia must embrace a balanced approach that ensures the protection of citizens through AI regulation and guardrails, while also fostering industry policy that encourages AI innovation, investment, and adoption,” Bush continued.
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