Australia’s corporate regulator will not implement AI technology to read and summarise hundreds of submissions to public consultations after a trial found the machine summaries were “bland” and not “sufficiently good”.
The Australian Securities and Investments Commission (ASIC) last year ran a 12-month trial using Meta and Amazon Web Services’ AI technology that “read” and summarised submissions to Parliament.
It aimed to gauge public views on the regulator during intense scrutiny of private consultants.
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