Last year, the government consulted with the public and industry about AI, and Australians made it clear they wanted stronger regulation. “Australians want stronger protections on AI, we’ve heard that, we’ve listened,” said Minister for Industry and Science Ed Husic in a media release.
The government’s proactive stance underscores the importance of clear communication and regulatory frameworks in managing emerging technologies.
“Australians know AI can do great things, but people want to know there are protections in place if things go off the rails.”
Businesses also asked for clarity on AI regulation so they can confidently seize the opportunities that AI presents.
The Tech Council estimates Generative AI alone could contribute $45 billion to $115 billion per year to the Australian economy by 2030. In response, Husic added, “Business has called for greater clarity around using AI safely and today we’re delivering.”
Earlier this year, the government appointed an AI expert group to guide the next steps. Their work informed the Government’s Proposals Paper for Introducing Mandatory Guardrails for AI in High-Risk Settings, which includes the following key elements:
The three regulatory approaches could be:
Read also: Calls grow for AI Safety Institute as Australians express concerns over AI risks
The government is also releasing a new Voluntary AI Safety Standard with immediate effect.
This standard provides practical guidance for businesses using high-risk AI, allowing them to start implementing best practices ahead of mandatory guardrails.
“From today, we’re starting to put those protections in place,” Husic noted.
The Standard will give businesses certainty ahead of the implementation of mandatory guardrails.
In step with similar actions in other jurisdictions—including the EU, Japan, Singapore, and the US—the Standard will be updated over time to conform to best practice changes.
Husic emphasised, “We need more people to use AI and to do that we need to build trust.”
This new guidance will help domestic businesses grow, attract investment, and ensure Australians enjoy the rewards of AI while managing the risks. By focusing on clear communication and actionable regulations regarding AI, the government is setting a precedent for how to manage the challenges of rapid technological advancements while fostering a positive and innovative environment.
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