Australian AI Act: Tech Companies and Banks Clash with Human Rights and Media Groups on AI Regulation
Australian Financial Review
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Details
- Date Published
- 16 Oct 2024
- Priority Score
- 4
- Australian
- Yes
- Created
- 8 Mar 2025, 12:05 pm
Description
The companies say sweeping rules like those in Europe and called for by public interest groups will do more harm than good, and could restrict new uses.
Summary
The article explores the tensions between major tech companies and banks versus human rights and media groups regarding Australia's approach to AI regulation. The Albanese government is being urged by businesses like National Australia Bank and Amazon to avoid broad, sweeping laws akin to Europe's, instead advocating for regulations targeting specific high-risk uses like facial recognition. This stance contrasts with public interest groups that promote more comprehensive AI regulatory frameworks. The article is significant in the context of AI governance and policy in Australia, highlighting a critical debate on balancing technological innovation with potential societal risks.
Body
TechnologyAIPrint articleAmelia McGuireBusiness reporterUpdatedOct 16, 2024 – 6.16pm,first published at12.27pmSaveLog inorSubscribeto save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?LoginMajor banks and the world’s technology giants say the Albanese government should avoid broad new laws to regulate artificial intelligence and focus on preventing harm from specific high-risk uses that could include facial recognition.The push, contained in submissions to the government from dozens of companies including National Australia Bank, Amazon and Atlassian, is at odds with demands from public interest groups for Australia to follow Europe and introduce specific rules on AI use.Loading...Amelia McGuirecovers technology from the AFR's Sydney newsroom. She was previously the aviation, tourism and gambling reporter for The Sydney Morning Herald and The Age.Connect withAmeliaonTwitter.EmailAmeliaata.mcguire@afr.com.auSaveLog inorSubscribeto save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreAICommonwealth BankAtlassianEd HusicBusiness ITWestpac Banking CorporationFetching latest articlesOlympic weightlifting is hard. This boss uses the 1pc rule to get it doneLucy DeanOut-of-control watch price rises give housing a run for its moneyKnow your craft: How the biggest airlines rate at the pointy end‘We’ll fight’: Alex Waislitz on family battles and bad betsPatrick DurkinJob appointments have never been purely merit-based: CEW chiefWhy this CEO saves creative work for after her periodA last-chance tote bag and a groovy case for trumpetersEugenie KellyLooking to escape? Here are the week’s hottest getawaysThis perfume gets aged in an oak barrel like a fine wineForrest family powerbroker had alleged role in big Fortescue decisionsPeter KerEllison-run garnet mine faces punishment over unsanctioned development‘We’ll fight’: Alex Waislitz on family battles and bad bets