AustraliaAustralia Falls Behind in AI Investment
Local models can do 90% of AI tasks at lower cost, but Australia lags in investing in local capability. The government is considering a deal with the US to boost AI development.
Global Newsflix 2 min read
Up to 90% of Australia's artificial intelligence tasks could be handled by simpler models that are cheaper and easier to build locally, according to Rupert Taylor Price, founder of Vault Cloud.
Taylor Price made the comment while appearing before a parliamentary inquiry into AI on Wednesday, highlighting the potential for local models to reduce reliance on foreign technology.
The inquiry also heard that Australia is falling behind in investing in local AI capability, with tech leaders warning that the country's advantages in the field are being lost overseas.
Cybersecurity firm Palo Alto Networks policy spokeswoman Nicole Quinn compared building defences against AI attacks to putting up stop signs in a world where cars have no brakes, emphasizing the need for careful regulation.
Quinn said that defending against AI required privileged access to models to detect threats before they emerge, and laws that force firms to build safeguards into their models as they are developed.
Assistant Minister for Science, Technology and the Digital Economy Andrew Charlton has previously spoken about the government's commitment to AI, but some experts warn that overzealous regulation could spook AI firms and hinder innovation.
The government is considering a deal with the US to boost AI development, with Ted O'Brien stating that an AI deal with the US is the Coalition's 'first priority'.
Key facts
- Up to 90% of Australia's AI tasks could be handled by local models
- Australia is falling behind in investing in local AI capability
- The government is considering a deal with the US to boost AI development
- Careful regulation is needed to defend against AI attacks
Three perspectives
Neutral
The Australian government is walking a fine line between regulating AI and allowing innovation to flourish. As the inquiry into AI continues, it remains to be seen how the government will balance these competing interests. The outcome of the inquiry will have significant implications for Australia's AI industry.
Positive
The potential for local models to reduce reliance on foreign technology is a positive step for Australia's AI industry. If the government can successfully balance regulation and innovation, it could lead to significant economic benefits and improved cybersecurity.
Negative
The fact that Australia is falling behind in investing in local AI capability is a concern, and the government's consideration of a deal with the US may not be enough to address this issue. Overzealous regulation could also hinder innovation and drive AI firms away from Australia.
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