Business Council Outlines Australia's AI Strategy for 2028
The Business Council of Australia has released a pivotal report titled Accelerating Australia's AI Agenda, setting out a clear plan to establish Australia as a global leader in artificial intelligence by 2028. The strategy aims to reignite productivity growth, which is essential for improving Australian living standards.
Artificial intelligence is identified as a key driver for economic growth, with the potential to significantly boost productivity. This, in turn, can lead to higher real wages and expanded opportunities across the workforce.
AI's Role in Boosting Productivity and Innovation
The report emphasizes AI's ability to reverse Australia's long-term productivity decline by enabling smarter work practices. Applications include intelligent logistics, streamlined public services, and automating repetitive tasks in healthcare, freeing professionals to focus on higher-value activities.
Core Recommendations for AI Leadership
- Develop clear, practical, and risk-based AI regulations that foster innovation.
- Simplify approval processes for data centres to accelerate infrastructure development.
- Create a national AI Research Consortium to encourage collaboration between businesses and universities on foundational AI research.
- Integrate standardised AI education across all levels—from primary to tertiary.
- Expand support for the National AI Centre to help small and medium enterprises adopt AI tools that enhance efficiency.
- Establish the Australian AI Safety Institute to focus on technical safety, international cooperation, and best practices.
- Invest in AI research and development to position Australia as a trusted AI hub and improve research data and computing resources.
- Implement secure data-sharing frameworks to enable AI innovation across both public and private sectors.
The Cost of Inaction
The report warns that without decisive action, Australia risks falling behind countries that are advancing rapidly in AI adoption. This could result in slower economic growth and diminished service delivery quality.
Building a skilled AI workforce is critical. This includes training AI specialists, data scientists, and engineers, while also educating the broader workforce on AI’s practical applications to improve everyday tasks.
Even automating routine but essential functions like payroll processing or document analysis could generate substantial benefits for businesses and consumers alike.
Balancing Opportunity and Responsibility
AI-driven productivity gains will free people to focus on creativity, collaboration, and care—areas where human skills remain unmatched. However, the transition presents challenges that require careful management.
The establishment of an AI Safety Institute is a key recommendation to ensure responsible adoption, focusing on safety, ethical considerations, and international collaboration.
This strategy marks a critical moment for Australia to foster economic growth, empower its workforce, and improve lives by embracing AI.
Accelerating Australia's AI Agenda sets out a three-year roadmap starting July 2025, calling for concerted effort across government, industry, and education to turn this vision into reality.
Executives and strategists interested in AI upskilling and leadership can explore relevant courses and training at Complete AI Training.
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