elevenM has published its submission to the Australian Government’s consultation on how it can mitigate any potential risks of AI and support safe and responsible AI practices.
Over the last two decades, digital innovation has resulted in a wholesale transformation of economies around the world. Over the next two decades AI and related technologies promise even more radical change, with the potential to disrupt virtually every aspect of our economy and society.
In this nascent space, the opportunity for Australia is immense. We are well placed to shape the global debate on responsible AI policy, and Australian businesses are already taking a leading role in responsible AI development. The challenge for government is to put in place regulatory settings that will drive responsible innovation while capturing the benefits for all Australians.
At elevenM, we believe that trust is a critical dependency for sustained digital innovation, and the establishment and maintenance of trust should be a guiding star for technology policy. Trust unlocks business’ license to innovate and enables public participation in the benefits of new technologies.
Without trust, adoption falters and progress stalls.
AI regulation should be focused on building trust in AI systems by managing risk and ensuring AI development and use is well aligned to community values and expectations.
In our submission to the Government, we outline the following positions:
- Regulation should apply to public and private organisations, and should address all sources of risk across the AI supply chain, including developers and deployers of solutions.
- Regulation needs to allow flexibility in some areas (which can be achieved with a risk-based model) and be more stringent in others (such as banning activities with the potential to cause real harm to people).
- Our regulatory regime must be consistent with emerging international standards.
- Regulations must be overseen and maintained by a well-resourced and active regulator. The regime must have teeth.
- Neither self-regulation nor limited focus on certain AI supply chain participants will deliver the consistency and reliability of outcomes required to build public trust and drive adoption of new AI technologies.
Download our submission to read our responses to the specific questions posed by the Government by clicking the button below.