There is too much focus in Australia on trying to regulate the downside risk of artificial intelligence, and too little on securing its upside benefits, according to Professor Anton van den Hengel, a global leader in computer vision and machine learning based at the University of Adelaide.
While the federal government has put its efforts into ring-fencing through legislation some riskier use-cases of AI sourced from offshore, there has been little or no investment in building sophisticated domestic AI capability, he says.
Australia had lost a decade through chronic under-investment in machine learning, compared to peer economies around the world, and will take a huge effort – and a billion-dollar investment – just to secure access to a skills pipeline to keep up with growth, Professor van den Hengel said.
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