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New report highlights AI’s potential in Victoria

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New report highlights AI’s potential in Victoria

Victoria has significant opportunities to take a lead on artificial intelligence to foster innovation and private investment and to attract and retain talented people into the state, according to a new report released by the Committee for Melbourne.

The report, “The future of Artificial Intelligence in Australia”, was released on 17 December by the Committee for Melbourne’s AI Taskforce. Nous Group is a member of the Taskforce, which was a collaborative effort led by 10 organisations committed to the future of Melbourne as it recovers from the pandemic.

The report, which was commenced prior to COVID-19, details the extensive economic and social benefit that could be achieved from developing AI, and also highlights the safeguards and regulatory controls that are needed for an equitable, fair and safe ongoing use of AI.

Tim Orton, Managing Director of Nous Group and a recent director of the Committee for Melbourne, explained the growing significance of AI in the report.

“The power of AI is transformative for our society,” Tim said. “As it becomes a greater part of our lives we have to make sure that it strengthens the rights and interests of all of us as human beings.”

The report recommends action from national and state governments. It recommends the Australian Government establish a National Centre of AI Ethics and Innovation, an AI Ombudsman and an AI Fund, while recommending the Victorian Government develop skills, curriculum and general AI literacy and conduct a feasibility study into an AI Precinct.

Martine Letts, CEO of the Committee for Melbourne, said the Committee considered AI one of the most important issues facing the city and community, even more so following the COVID-19 pandemic.

“Given the size and scale of the policy considerations, tremendous leadership will be needed to drive the long-term strategic thinking on AI which is so essential to our future economic growth and community wellbeing,” she said.

Nous Principal Sudipto Sarkar represented Nous on the AI Taskforce, with support provided by Nous Senior Consultant Ryan Batchelor.

Committee for Melbourne

Published on 17 December 2020.