Minister reminds employers to use AI 'safely, responsibly'
Many businesses are overestimating their ability to adopt artificial intelligence (AI) safely and responsibly, according to a new report.
The Responsible AI Index 2024, commissioned by the National AI Centre, reveals that while a majority of Australian businesses believe they are compliant with responsible AI practices, only a fraction are meeting those standards.
According to the report, 78% of businesses surveyed believe they are effectively implementing AI safely. However, the research showed that only 29% of these businesses are adhering to the necessary practices.
Source: The Responsible AI Index 2024
The Responsible AI Index assessed 413 executives responsible for AI development in industries such as financial services, healthcare, government, telecommunications, retail, and transport.
The survey evaluated businesses on their adoption of 38 identified responsible AI practices, which were grouped into five key dimensions:
On average, Australian businesses are implementing only 12 of the 38 responsible AI practices.
The findings come as more employers make use of AI in the workplace. According to the report, 69% of organisations have been using AI for less than three years.
Source: The Responsible AI Index 2024
"We know AI can be hugely helpful for Australian business, but it needs [to be] used safely and responsibly," said Industry and Science Minister Ed Husic in a statement.
The Australian government has taken several steps to address these challenges. As part of its efforts, it has released a Voluntary AI Safety Standard and a Proposals Paper for Introducing Mandatory Guardrails for AI in High-Risk Settings.
"The Albanese government has worked with business to develop standards that help identify and manage risks," the minister said. "This is a practical process that they can put into use immediately, so protections will be in place."
AI is projected to generate up to 200,000 related jobs in Australia by 2030, according to Husic. It is also expected to contribute $170 billion to $600 billion to the country's GDP.
"So it's crucial that Australian businesses are equipped to properly develop and use the technology," he said.
