The Business Council says data centres must be a part of Australia’s AI plan. Photo: Emir Koo.
The Business Council of Australia (BCA) has released a report outlining a “national blueprint” with a strategy aimed at making Australia a leader in AI technology by 2028 in an effort to kickstart productivity.
Productivity has been a common theme in recent comments from the BCA, as they align with government statements on productivity as the focus of the administration.
The BCA’s Accelerating Australia’s AI Agenda report intends to unlock AI’s innovation potential, lifting living standards and addressing national productivity issues.
“AI is our next big lever for economic growth and a significant opportunity to boost Australian living standards,” BCA chief executive Bran Black said.
“If we get this right, AI can deliver a significant productivity boost and that means higher real wages and more opportunities for more Australians.”
The BCA has identified areas in which AI could increase productivity, such as logistics, streamlining services, automating repetitive tasks and removing bottlenecks.
Key recommendations include:
- Implement practical “risk-based” AI regulations that encourage innovation.
- Establish a national AI Research Consortium where businesses and education institutions cooperatively pursue research.
- Simplify data centre approvals.
- Expand support for the National AI Centre to assist small-to-medium businesses in identifying and deploying AI to improve efficiency.
- Introduce standardised AI courses and units at every level of primary, secondary and tertiary education.
- Create an AI Safety Institute to focus on technical AI safety, best practices and international cooperation.
- Create more secure data-sharing frameworks to encourage AI innovation across private and public sectors.
- Invest in AI research and development to position Australia as a hub for AI.
“The choices we make now will determine whether we gain a competitive edge or fall behind,” Mr Black said.
“We need to be training more AI specialists, data scientists and engineers, while also educating the entire workforce on how we can improve the day-to-day work experience.”
The BCA has warned that without immediate action, Australia may fall behind competitor nations that are making AI capability a central component of policy, resulting in reduced economic dynamism.
