Business groups welcome National AI Plan

On Tuesday (2 December), the government released its long-awaited National AI Plan, which aimed to capture AI opportunities, mitigate risks and share the benefits across the community.

“This plan is focused on capturing the economic opportunities of AI, sharing the benefits broadly, and keeping Australians safe as technology evolves,” Minister for Industry, Innovation and Science Tim Ayres said.

“Guided by the plan, the government will ensure that AI delivers real and tangible benefits for all Australians.”

Alongside the AI plan, the government pledged $29.9 million to establish the AI Safety Institute, a government-led initiative to monitor AI-related risks and adaptation. It added that it would launch an ‘AI Accelerator’ funding round in its Cooperative Research Centres (CRC) grant program.

Business groups have welcomed the government’s AI roadmap, with the Business Council of Australia (BCA) labelling the plan an important step forward in seizing the “once in a generation” economic opportunity of AI.

In particular, the BCA praised the government’s plan to support local capability and attract investment in Australia’s digital and physical infrastructure.

“If we want to remain globally competitive, we need AI-ready infrastructure—modern data centres, world-class compute capacity and fast, reliable connectivity,” chief executive Bran Black said.

“Building sovereign capability is critical, and backing Australian innovation through targeted R&D investment will help keep talent and ideas onshore.”

However, it raised concerns regarding the government’s proposal to regulate AI in the workplace, which the BCA said could hinder the potential benefits of AI to the broader economy.

“Striking the right regulatory balance is essential, and we must ensure existing protections remain fit for purpose without erecting barriers that make Australia a slower or less attractive place to innovate,” Black said.

PwC Australia also threw its support behind the new national AI framework, saying that adoption of trusted AI could lift economic output in the Asia-Pacific region by 14.7 per cent over the next decade.

“We support the Government’s commitment to guardrails and targeted oversight that enables innovation and maintains public trust,” CEO Kevin Burrowes said.

“The decision to build on Australia’s robust existing legal frameworks will be welcomed by the business community and provide confidence in Australia's ability to drive economic gains and productivity through safe adoption of AI.”

The big four consulting firm added that good governance would need to be central to the AI transformation.

“While AI will provide benefits, it is imperfect and evolving faster than any technology in history. If business and government prioritise transparency, fairness, and accountability, then AI should serve to amplify human potential, while safeguarding integrity,” Burrowes said.

The government’s AI plan stipulated it would rely on existing legislation to mitigate harms related to the uptake of AI.

“Australia has strong existing, largely technology-neutral legal frameworks, including sector-specific guidance and standards, that can apply to AI and other emerging technologies,” the plan read.

It noted regulators would respond to AI challenges as they arose, adding that the government would closely monitor the development and deployment of AI.

“The Australian Government is encouraging the development and use of systems that are transparent, fair, and accountable, with consistent governance and compliance with relevant laws,” it read.

“The government will work with industry, unions, civil society and standards bodies to explore practical ways to support responsible deployment, including through voluntary measures and shared guidance.”