Skip to content

ASIC chair Joe Longo favours light touch approach to AI regulation

Longo says AI is a whole-of-society phenomenon, and that businesses can take many steps now without waiting for regulation or government policy.

Jassmyn Goh
Make us a preferred source
As large data consumers, ASIC's use of AI has grown significantly over the past few months. AAP/ Joel Carrett.

The corporate watchdog has joined calls for a light-touch approach to artificial intelligence, as Treasurer Jim Chalmers moved to dismiss suggestions that the government’s work on AI regulation had stalled following the post-election cabinet reshuffle.

Speaking at King & Wood Mallesons’ Digital Summit 2025 on Tuesday, Australian Securities and Investments Commission (ASIC) chair Joe Longo said he agreed with the Productivity Commission (PC) that AI regulation should proceed cautiously.

However, Longo argued the PC’s position did not go far enough, as it lacked a detailed analysis of AI’s risks and opportunities.

“I don’t see AI as an enforcement issue. It’s a whole-of-society, whole-of-community phenomenon that we’re all grappling with,” Longo said.