Call for sovereign AI fund to attract investment

Australia is being urged to follow Canada’s lead and create a sovereign fund to stimulate private investment in domestic AI capabilities, with one of the world’s largest consulting firms launching the push.

Accenture proposed the Sovereign AI Accelerator Fund in a recent submission to a parliamentary inquiry, arguing the need for government to take a front-foot approach to a technology that will fundamentally reshape the workforce.

“Australia must take the opportunity and invest in AI technologies, and stimulate business investment, as part of its national workforce strategy… to ensure strong productivity growth in the Australian economy,” it said.

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