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AI Regulation: Balancing Benefits and Risks

03 December 2024

03 December 2024

 

While many are aware of the Australian focus on trying to control access to social media by minors under 16 years of age, like the EU and the UK, it is also taking significant steps around the implementation of frameworks to control data usage and AIs.  Further observations about key developments with the potential to significantly impact Australian and New Zealand businesses trading into Europe will follow.

Meantime, it is clear that AI has great potential to improve public services like healthcare, education, and policing. However, concerns about misuse are a key barrier to wider acceptance. The UK government’s 2024 Generative AI (GAI) framework offers a solid foundation with 10 guiding principles, but comprehensive legislation is still lacking.

Key Points:

  • Public Opinion: Most UK adults support AI’s role in public services but remain cautious about misuse.
  • Current Framework: The 2024 GAI framework advises against using AI for decisions requiring complex human judgment and mandates human oversight.
  • Legislation Gaps: Despite calls for an AI Bill, it’s unclear whether future regulation will cover just private AI developers or also public authorities using AI in areas like immigration and healthcare.
  • Balancing Act: Regulation must protect against AI risks without stifling innovation or progress.
  • Business Impact: Companies must adopt flexible, up-to-date policies to manage AI risks while keeping pace with rapid technological change.

The focus shouldn’t be on whether to regulate AI, but on how to do so effectively, ensuring AI enhances society without compromising core values.  The key initiatives in Australia are:

  1. AI in Schools: The Australian Government has introduced the Australian Framework for Generative Artificial Intelligence in Schools, which will be implemented from Term 1, 2024. This framework aims to guide the ethical and responsible use of generative AI in educational settings1.
  2. Government AI Policy: The Australian Government has also released a policy for the responsible use of AI in government, effective from September 2024. This policy outlines mandatory requirements for transparency, accountability, and ethical use of AI across government agencies2.
  3. AI Assurance Framework: In June 2024, the Data and Digital Ministers Meeting agreed on a national framework for the assurance of AI in government. This framework establishes practices for applying AI ethics principles to ensure responsible AI use3.

These initiatives reflect Australia’s commitment to creating a regulatory environment that promotes innovation while ensuring ethical and responsible AI use.

03 December 2024
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