The Australian Government's 2021 budget commitment to AI is a good start

As CEO and cofounder of AI start-up SimpleMarketing.AI, I've followed the Australian Government's budget this year with interest.

It is really positive to see the Australian government explicitly call out Artificial Intelligence in its Digital Economy Strategy, with a direct financial commitment of $124 million over four years to support the adoption and use of AI by Australian businesses.

As the first Australian company to release a commercial AI solution generating marketing content for businesses, normalising local business use of AI-powered solutions is critical for our future success.

I also welcome the investment into 460 advanced scholarships for emerging technological fields including AI and the focus on the Global Talent visa to bring appropriate talent to our shores.

Businesses located in our major trading partner countries are increasingly implementing AI-powered solutions to streamline their operation, improve marketing and enhance their competitive positions.

For Australian businesses to remain competitive and maintain an edge over competitors, particularly overseas, they will need ready access to appropriately skilled personnel to adopt similar AI-powered solutions.

In my view Artificial Intelligence (AI) has the capability to impact every Australian positively, where we work, play and live. 

And this year there was an opportunity for the Australian Government to set a firm forward direction on Australia's development, adoption and use of Artificial Intelligence.

Did the government take this opportunity? 

Partly.

The specific mention of Artificial Intelligence in the government’s Digital Economy Strategy is a positive step forward, and the Finance Minister is right to say we can't afford to be left behind.

The establishment of a National Artificial Intelligence Centre led by CSIRO Data 61, supported by a network of AI and Digital Capability Centres to drive adoption of AI across the economy, will help the government understand and quantify the scope and range of AI-related activities occurring around the country.

But there's a lot of work left to do.

Australia is one of the most advanced economies in the world when it comes to adopting AI, but this is only because we've been one of the early adopters.

We need to keep this momentum going and accelerate our adoption of AI to stay at the forefront of innovation and progress.

For instance, while the Australian government has focused on adoption and use of AI, there's also significant opportunity for AI start-ups, like ourselves, to develop and innovate around AI to create great new solutions for Australians to adopt.

It would be very risky for Australia to remain primarily a consumer of foreign AI services. As these become integral to business operations, disruption of access to these AIs could put our businesses at risk.

I strongly believe AI itself will become a commodity and businesses and services built on AIs will adopt the best available for their purpose. 

But, as with other commodities, if the trade lanes don't remain clear and unfettered, it can have a devastating impact on an economy if the steady supply of these commodities is interrupted. Hence the need for Australia to continue to invest in developing and innovating with AI, not simply adoption and use.

It's my hope that the next budget will make a firm commitment to innovation and development of Artificial Intelligence with a similar level of commitment to adoption and use.

This will allow Australia to continue to be at the forefront of innovation and progress, not to mention provide greater economic and job security for Australians.

This year's budget is a good start, with its investment in skills and attracting global talent. But it's only a start.

We need to maintain AI momentum , accelerating our innovation to stay at the forefront of AI progress.

To do so, the Australian Government, as well as State and Territory Governments, must continue to invest in skills and innovation in AI and other emerging technological fields.

This will support the adoption and use of AI by businesses across Australia to keep us internationally competitive. 

It will support an ecosystem of AI innovation across the country and provide capability to build local AI services and infrastructure to keep Australia secure and independent.

And it will support companies like ours, and dozens of other AI start-ups currently finding their feet in Australia today.