Former Industry Minister Ed Husic on Tuesday blamed Treasury “hard heads” for limiting Australia’s technology development, and revealed he wants artificial intelligence governed by an AI Act to instill public confidence.
But Mr Husic, who led a two year consultation on Australia’s AI regulation that is yet to deliver anything enforceable, said the Albanese government could take years longer to deliver the legislation.
“I reckon we should have at least our own AI Act. I don’t know necessarily if that will happen in this term. I think it should,” Mr Husic said on a panel at the Australian Financial Review’s AI Summit.
Want to know how this story ends?
Become a subscriber for complete access to all stories on InnovationAus.com and our daily newsletter.
Do you know more? Contact James Riley via Email.
Treasury has a clear culture of anti-Industry policy, that is in their view government should never, or at least very reluctantly, invest/intervene in supporting domestic capabilities. They see a sector as being efficient or inefficient. If its efficient, then it doesn’t need intervention, if its inefficient, then intervention won’t change that but will drain resources from other investments.
In short, they were against FMA or similar policy for cultural reasons (a department of economist are never going to support Industry policy unless forced and then in a manner which will kill the policy if possible).
It’s up to DFAT to advocate economic security (through supply chain diversification) and Department of Industry to advocate for domestic capability uplift. Treasury is just a blocker and is incapable with the current entrenched culture to be anything more.