Government acts on AI risk, safety

The federal government has issued a Proposals Paper for Introducing Mandatory Guardrails for AI in High-Risk Settings responding to business calls to clarity on AI regulation

The proposals paper canvasses a proposed definition of high-risk AI, ten proposed mandatory guardrails and regulatory options to mandate these guardrails.

The three regulatory approaches could be:

• Adopting the guardrails within existing regulatory frameworks as needed
• Introducing new framework legislation to adapt existing regulatory frameworks across the economy
• And introducing a new cross-economy AI-specific law (for example, an Australian AI Act).

The Minister for Industry Ed Husic releases the proposals paper and a new Voluntary AI Safety Standard with immediate effect.

It provides practical guidance for businesses where their use is high risk, so they can start implementing best practice in the use of AI.

The Standard give businesses certainty ahead of implementing mandatory guardrails, according to the government.

In step with similar actions in other jurisdictions – including the EU, Japan, Singapore, the US – the Standard will be updated over time to conform with changes in best practice.

Husic said: “Australians want stronger protections on AI, we’ve heard that, we’ve listened.

“Australians know AI can do great things, but people want to know there are protections in place if things go off the rails.

“From today, we’re starting to put those protections in place.”

The new guidance will help domestic businesses grow, attract investment and ensure Australians enjoy the rewards of AI while managing the risks, according to the government

Consultation on the Proposals Paper for Introducing Mandatory Guardrails for AI in High-Risk Settings is open for four weeks, closing 5pm AEST on Friday 4 October 2024.

Picture: Ed Husic