Safe and responsible AI in Australia

In August 2023, we responded to Government’s consultation on supporting responsible artificial intelligence (AI) in Australia.

AusPayNet supports the Government’s work to ensure that Australia has clear and proportionate governance frameworks in place to mitigate potential risks while supporting the continued development and adoption of effective and trustworthy AI technology.

Based on our review of global approaches to AI regulation and our experience in developing and managing standards for the payments industry, we proposed adopting a sector-based approach in which regulators would seek to proportionately address the risks posed by AI within their respective remits, in accordance with existing laws and regulations and guided by a set of cross-sectoral principles on responsible AI. This would give regulators the flexibility to tailor their response to the use and impact of AI for specific contexts within their areas of expertise, while ensuring general consistency in outcomes across the economy.

Given the cross-border nature of technology, global coordination on governance will also be important for facilitating the development and adoption of AI technologies. We also encouraged the Government to consider measures that would assist businesses in adopting AI technology, including the provision of tools to help verify that an AI-enabled system meets the necessary standards.

AusPayNet’s submission is available below.