Australia, 16 December 2024 – Australia is mobilizing its engines to take a leadership position in artificial intelligence with a National AI Capability Plan. Introduced by the Minister for Industry and Science, Ed Husic, the plan touches on restructuring economic growth and productivity that would lead AI and automation to account for as much as $600 billion in GDP annually by 2030. Growing investments, strengthening national capabilities, and enhancing AI literacy prepare businesses and their employees for the future.
The initiative will explore opportunities for state and federal government support to be aligned and industry needs to be met to increase private sector investment in AI innovation. There are currently over 650 AI companies in Australia that have collectively invested more than $2 billion in AI applications in 2023 alone, and this will build on the existing strengths of Australia in primary industries such as agriculture, mining, and renewable energy while extending its global competitiveness.
Another primary area of interest is workforce development. The plan aims to hasten AI literacy and training on reskilling opportunities to keep Australians at pace with new job openings.
The plan directs efforts toward ensuring economic resilience by highlighting the requirements for sovereignty and infrastructure, addressing digital inclusion, and mitigating risks. It is a continuation of the Albanese Government’s $1 billion investment in critical technologies, the associated program of AI adoption centers for small businesses, and introductory AI courses taught by TAFE.
The plan foresees completion by the end of 2025 and demonstrates the government’s belief in and provision for setting up a strong and responsible AI ecosystem.
According to Ed Husic, Minister for Industry and Science, AI has great potential in driving economic growth and creating high-quality jobs. “Growing investment in AI will supercharge industry and create more well-paid jobs. We need to scale up our capabilities in critical technologies, in ways that work for businesses and their workers,” he said.
“This plan will look to harness our AI know-how to secure our supply chains and strengthen our critical infrastructure. We will work closely with firms, and with communities and workers, to drive investment in our AI capabilities.”
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