More than two-thirds of Australian organisations have embraced synthetic intelligence however many executives are largely unaware of current legal guidelines governing their use, in accordance with a brand new report.
Artificial intelligence is quick changing into an important a part of business throughout all sectors in Australia, however most corporations aren’t managing the industrial, regulatory and reputational dangers posed by the know-how, a brand new report from the University of Technology Sydney says.
“AI systems are not operating in a ‘regulatory Wild West’,” one of many report’s lead authors, Lauren Solomon, mentioned.
“AI systems are subject to privacy, consumer protection, anti-discrimination, negligence, cyber security, and work, health and safety obligations, as well as industry-specific laws.”
It comes as dozens of worldwide specialists signed a letter warning synthetic intelligence might trigger the extinction of humanity as a part of an announcement revealed on the Centre for AI Safety web site.
“Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war,” the letter says.
The UTS report, The State of AI Governance in Australia, was put collectively in December final yr utilizing surveys, interviews and workshops with greater than 300 Australian firm administrators and executives and skilled authorized evaluation.
Executives see AI as having the potential to spice up productiveness and enhance customer support, however whereas they had been glad to spend money on bringing AI into their business, these funds had been usually not matched by funds for system administration and governance.
“AI systems are increasingly essential to how organisations create value but they introduce new risks and exacerbate existing ones,” one other of the report’s authors, Professor Nicholas Davis, mentioned.
The methods are extra complicated and require specialist consideration together with from senior employees, Prof Davis mentioned.
Without guardrails, corporations are liable to offering false data to their clients, treating customers unfairly, unlawfully discriminating in opposition to people – particularly by means of service denial – inflicting psychological hurt, or leaking private information.
The report made 4 suggestions, together with that executives are concerned in constructing AI experience of their organisations, they create company-specific AI methods and governance methods and create a tradition round AI that places employees at its centre.
Source: www.perthnow.com.au
