Australia is facing a critical turning point in how it approaches artificial intelligence, with experts warning that the country risks becoming overly dependent on foreign technology if it does not actively build its own AI industry. In a recent analysis, Dr Andrew Charlton argued that AI represents a “general-purpose technology” that will shape nearly every sector of the economy, from healthcare to defence and public services. He compared the current moment to past economic reforms in Australia, when policy shifts opened the economy and increased global competitiveness. The key issue, according to the analysis, is ownership of AI systems. If Australian businesses only adopt tools developed overseas, much of the economic value will flow to foreign companies. However, if local firms develop and scale their own AI solutions, the benefits—such as productivity gains, jobs, and innovation—can remain within the country. Companies like Harrison.ai are highlighted as examples of local success, demonstrating how early investment and domestic adoption can help build globally competitive AI firms.
Read more here
https://www.innovationaus.com/stepping-through-australias-sliding-door-moment-on-ai
