It is reported that in his speech at a Business Council of Australia event, Australian Treasurer Jim Chalmers has signaled a shift in the federal government’s approach to AI. Chalmers emphasized the government’s focus on the “huge gains on offer” from AI, not just the regulatory aspects. He highlighted a dual strategy that aims to balance economic growth potential with appropriate safety measures. This change in tone comes amid growing pressure on the government to address concerns that Australia may be falling behind globally in AI development. There are calls for the upcoming federal Budget to include significant funding to boost Australia’s AI capabilities and prevent the country from becoming an AI laggard on the world stage.
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