The AI plan will be drawn up in consultation with industry in late 2025 – after the next federal election, which is scheduled for the first half of the year.
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Australia’s Federal Minister for Industry and Science, Ed Husk, has announced that AI investment, supercharging industries and Creating good paying jobs Across the country
“We need to expand our capabilities in critical technologies in ways that work for businesses and their workers,” Husic said in a statement announcing the new AI plan.
What will Australia’s new AI capacity plan include?
The AI Plan aims to develop a comprehensive strategy focusing on AI investments, existing strengths and advantages, skills development, and autonomous infrastructure and capabilities.
Australia wants to boost AI investment
The government plans to review how existing Australian state and federal government support mechanisms work together to prevent or enable Australia’s AI technology ecosystem. It will also identify Ways to promote private sector innovation and investment in AI capabilities.
Focus on strengthening AI capabilities
will identify the project areas. The power of research and innovation in Australia’s universities and businesses Which can help in the development of AI industry. Additionally, the government will explore new opportunities for comparative advantage in key sectors of the economy, including agriculture, mining and renewable energy.
Strategies for AI skills and training
The government wants to accelerate AI literacy. Identifying new skills and methods of training and retraining. Efforts will also focus on enabling workers to reskill throughout their careers, helping them seize opportunities in new AI-powered jobs or AI automating parts of existing roles.
Autonomous capabilities and infrastructure
Where will the government consider? Autonomous capacity or infrastructure may be required. Making the most of AI technologies for Australia. It will also consider the opportunities and threats to AI and digital inclusion in Australia and how AI will impact communities and workers.
How will Australia’s new plan be developed and finalised?
As AI will affect almost every industry, the government has said that the strategy will be developed in consultation with various stakeholders – both industry and the general public. Consequently, the government will initiate a targeted and public consultation period before finalizing the plan. Australia’s Department of Industry, Science and Resources will carry out the process.
When will the AI capability plan be finalized?
The plan will not be released until late 2025. Given the rapid pace of AI development, the Australian Information Industry Association Called the pace too slow to take advantage of new AI opportunities.. He argued that the government should speed up its timetable. Federal elections will be held during this period, which may affect the process in the event of a change in government.
Why has Australia embarked on an AI Capability Plan?
The Australian government has outlined its intention to build on the country’s existing comparative advantages in AI, emphasizing an “Australian-first” approach to growing the local AI industry for the future.
In announcing the plan, the government highlighted that around 650 AI companies are already located in Australia. Figures released by the government show that in the five years to 2023, foreign investors contributed AUD$7 billion to Australian AI technologies.
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“This project will seek to leverage our AI knowledge to secure our supply chains and strengthen our critical infrastructure,” Husic said. “This is what business is calling for and we are delivering it. We will work with firms, and communities and workers, to drive investment in our AI capabilities.
What else is Australia doing to boost its AI potential?
The government has been The focus on regulation and guardrails to protect citizens from AI has been criticized.Instead of supporting AI innovation, investment and adoption. The AIIA described Australia as a “slow adopter of AI in its economy by global standards”, leading to what it called “concern and fear” with the technology.
However, the government pointed out that AUD$1 billion has been committed to key technologies under the National Reconstruction Fund, while the Research and Development Tax Incentive will provide around AUD$500 million worth of AI, computer vision, and supported machine learning projects.
The government has also set up a network of “AI Adopt” centers to empower SMEs that want to understand and adopt AI in their businesses. The National AI Center has also released a microskills course, “Introduction to Artificial Intelligence”, delivered by TAFE NSW.