Tech sector urges Labor to tread carefully on regulating AI or risk missing out on the boom
Technology startups are recommending caution as the Albanese government prepares to reveal plans to regulate artificial intelligence in the Australian economy.
Technology companies are urging legislators to tread carefully as the Albanese government prepares to release a framework for regulating the use of artificial intelligence across the economy, in a move being monitored closely by intellectual property lawyers.
Industry Minister Ed Husic is set to release a new report on AI regulation in Australia this week, a follow up to his department's "safe and responsible AI" discussion paper from last July.
It comes just weeks after the European Union, which has a history of influencing global technology policy, agreed to a final version of the EU AI Act after years of deliberation. The sweeping framework, which classes and regulates AI applications across four risk categories, will be overseen by a new AI Office in Brussels.
Hon Weng Chong, whose Melbourne based startup Cortical Labs is working to develop a new type of AI processor, told Capital Brief that he worries regulation that's stiffer than the EU’s might discourage AI providers such as OpenAI from deploying their latest and most powerful tools in Australia.
