The data-linked challenges of an AI boost to Australian productivity
The Productivity Commission is urging policymakers to balance the need to manage consent requirements of collecting data while pursuing the potential productivity and economic gains AI has to offer.
The government's cybersecurity strategy and ongoing privacy law review are pushing companies to be accountable for what data they have and avoid collecting what they don't need.
But the Productivity Commission argues that even in a quality over quantity approach, Australian datasets are not currently being used to their full potential.
“Advances in AI highlight that data is an increasingly valuable resource that is underutilised in Australia," Productivity Commissioner Stephen King said in a media statement.
He added that “the new wave of AI innovation may finally pull productivity growth out of the shallows" and that a judicious approach to policy intervention would be needed to deliver economic benefits.
