‘We will lose out’: Budget gets a fail mark for AI funding


AI leaders and groups representing the wider tech sector have reacted with dismay at the absence of new funding for artificial intelligence from the Albanese government at a time when other nations are ramping up investment.

Tuesday’s Budget contained no new industry funding for AI, with a $40 million investment flowing exclusively towards the development of AI policies and a “reshaped” National AI Centre.

The government plans to use the new funding to continue work on AI guardrails, with mandatory safeguards for high-risk AI use like autonomous vehicles and healthcare and voluntary standards for lower risk applications under development.

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