30s Summary

The Australian government is developing a National AI Capability Plan to strengthen the country’s artificial intelligence (AI) industry. Industry and Science spokesperson, Ed Husic, said the strategy includes upskilling people, attracting investment, and fostering innovation. Husic spoke of using AI to bolster supply chains and infrastructure security. The plan will also assess current AI support systems and work to improve AI understanding and workforce training. Meanwhile, the Australian Information Industry Association argued for a quicker timeline given AI’s rapid growth.

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The Aussie government is moving to develop a National AI Capability Plan. They want to explore ways to boost the country’s artificial intelligence scene as they work to compete stronger in this rapidly expanding sector.

Ed Husic, the bigwig for Industry and Science, announced the plan on Dec. 16, saying they’re going to examine how to beef up Australia’s AI skill set. They plan to do this by helping people get new AI skills, attracting more investment, and encouraging new ideas and innovations to bloom.

Husic spoke about how they’re aiming to use Australia’s established knowledge of AI to make things more secure, from our supply chains to our critical infrastructure. He said they’re going to work closely with businesses, communities, and the workforce to get more investment into AI.

Husic mentioned that they’re going to review the current state and federal support systems to see if they’re actually encouraging or discouraging the growth of Australia’s AI industry. They will also consider how to help more people understand AI and how to better train the local workforce.

The Australian Government Department of Industry, Science, and Resources reported that Australia has about 650 AI companies right now. They’re forecasting that AI and automation could bring in hundreds of billions a year to Australia’s GDP by 2030.

The National AI Capability Plan is expected to be completed by the end of 2025.

Some folks argue that this timeline is too long, considering how quickly the AI industry is growing. The industry is projected to be worth a whopping $826 billion globally by 2030, according to Statista.

Simon Bush, the head of the Australian Information Industry Association (AIIA), thinks that while the National AI Capability Plan is a step in the right direction, it needs to move faster. He suggested that the review should be finished by July 2025 to ensure that funding can come through more quickly.

In his statement, Bush expressed concerns that Australia has been slow to adopt AI compared to the rest of the world due to worries and fears. He highlighted the need for a balanced approach that both protects citizens with AI regulations and supports innovation, investment, and adoption in the AI sector.