Biden's AI policy and implications for Australia

US President Biden’s signing of the AI Executive Order this week will see significant implications not just for the United States but also for countries like Australia, which is keen on shaping its own AI future.

As the U.S. doubles down on AI investment, education, ethics, and international collaboration, it sets a notable precedent for global AI development. But how will this affect Australia, and when can we expect a similar policy from the Australian government?

While Australian government is yet to release a comprehensive AI policy in response to the recent developments in the U.S., it's highly likely it will be closely monitoring these activities. Australia has long been engaged in the AI conversation and has expressed a keen interest in nurturing its own AI ecosystem. At Kodora.ai , we are expecting Australian government will unveil its own AI policy to complement these efforts in the near future (Q3 2024).

To be effective, the development of AI policies in Australia will need to be a multi-agency effort. Government departments such as the Department of Industry, Science, Energy and Resources, the Department of Education, Skills and Employment, and the Department of Home Affairs will be required to play significant roles. A collaborative approach will ensure a comprehensive and inclusive policy framework that caters to education, industry, and national security.

Following the release of U.S. AI policies and the President’s signing of the AI Executive Order this week, we would naturally expect Australian AI policies will also bring about a range of implications for businesses, both small and large, across the nation.

For small businesses we would expect enhanced access to AI resources which would include research and development, fostering innovation and providing cost-effective AI solutions. Small businesses should also see opportunities for upskilling, equipping small business owners and employees with the knowledge to leverage AI effectively.

For large business enterprises, we would expect Australian government act as a conduit for collaboration with U.S. counterpart businesses and government agencies and provide large businesses access to the international AI community which would drive innovation and market expansion. Other benefits would include improved access to a global AI-skilled workforce and information sharing on AI compliance and ethics.

If Australia is to follow the US approach to AI, government would also need to consider the following compliance factors:

• Data Ethics: Ensuring the responsible and ethical use of data in AI applications, respecting privacy, and obtaining informed consent.
• Transparency: Openness in AI decision-making processes and providing clear explanations for AI-driven outcomes.
• Fairness: Preventing bias in AI algorithms to ensure equitable treatment for all users.
• Accountability: Establishing clear lines of responsibility for AI systems and their decisions.

In the evolving landscape of AI development and policies, it is crucial for Australian businesses to stay informed and adaptable, as compliance with ethical AI principles will be paramount for long-term success and international collaboration. At Kodora we will continue to closely monitor official government channels and industry associations for updates on Australia's AI policies and their implications for businesses.

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