Australia should not rush to put restrictions around the use of artificial intelligence (AI) or it risks dealing the nation “out of the game,” the Productivity Commissioner warns.
Commissioner Stephen King issued the warning at the Committee for Economic Development of Australia (CEDA) AI Leadership Summit on Dec. 8, which heard Australian banks, telcos, law firms and healthcare providers were increasingly using artificial intelligence to boost productivity and improve outcomes.
But experts also shared public concerns about the use of generative AI at the event, saying most Australians wanted the technology to be regulated, and that the use of AI needed to transparent, considered and unlikely to mislead users.
Mr. King, who delivered the keynote address at the national summit, said the use of generative AI in Australian businesses would have a widespread and long-lasting effect on productivity that he likened to the introduction of computers in the workplace.
But he said concerns about AI should not be addressed in Australia with strict laws for its use.
“The productivity opportunity of AI over the next two or more decades is huge,” Mr. King said.
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