Australia’s 2021-2022 AI Action Plan recognises the transformative potential of Artificial Intelligence across a range of domains, striving to harness its power for economic growth, job creation, dispute resolution and business development.
This plan is structured around four main ideas:
AI Development and Adoption: The Action Plan supports companies integrating AI technologies to improve productivity, competitiveness and promote the digital transformation of Australian industries.
Attracting AI talent: Australia aims to create an attractive environment for top international talent in the field of Artificial Intelligence. This is essential to ensure that businesses have access to cutting-edge knowledge and innovations.
Solving national challenges: By leveraging its AI research capabilities, Australia aims to address national challenges through advanced AI technologies. The goal is to benefit all Australians and keep the nation at the forefront of AI innovation.
Responsible and inclusive AI: The plan emphasises AI development that aligns with Australian values and fosters inclusion. It seeks to ensure that AI technologies benefit all of society and reflect the country’s commitment to ethical and inclusive AI practices.
By coordinating efforts across government, business and researchers, Australia’s AI Action Plan aims to maximise its potential while driving economic growth, transforming industry and creating jobs.
The Australian Federal Government has undertaken a number of initiatives to foster the development of artificial intelligence (AI) in the country. As part of its national AI strategy, in the 2018 budget, the government announced a $29.9 million investment over four years to build AI capabilities and support businesses.
In addition, in the 2023 budget, $41.2 million was committed to support the responsible deployment of AI in the national economy , which is synonymous with development and leading and cutting-edge positioning in this field.
In 2021, the Commonwealth Scientific and Industrial Organisation (CSIRO) Data produced a report for the Australian Government identifying critical areas for AI development and adoption, such as healthcare, natural resources and urban infrastructure.
That same year, the National AI Center was established, with the goal of bringing together partners from government, industry, and the research sector to drive AI exploration and adoption. In the defense sector, the Defense AI Development and Research Network (DAIRNet) was also created in 2021, an initiative of the Department of Defense through the Next Generation Technologies Fund (NGTF) , aimed at bringing together a community of AI researchers working on new AI technologies for defense applications.
With private investment worth $1.35 trillion in 2022, Australia lags far behind global leaders such as the US, China and the UK.
However, it is still ahead of some larger economies such as Japan. Private equity investments in AI are proliferating, with almost half of the cumulative investments over the past decade concentrated in 2022. While overall startup funding in Australia fell in the first half of 2023, AI investment remains strong, mainly due to the popularity of ChatGPT OpenAI launched in 2022.
Case 1: How AI is revolutionizing the mining industry:
The adoption of AI has improved efficiency and safety in the mining industry. AI algorithms provide more accurate estimates of mineral reserves by examining geological and geological data patterns and incorporating historical mining data. For example, mining companies have employed AI to find lost resources.
Furthermore, processing real-time data collected by Internet of Things (IoT) devices and sensors using AI algorithms has helped streamline mining operations and optimize asset management through predictive models that improve decision-making and prevent unplanned downtime.
AI-powered autonomous vehicles and machinery can navigate complex terrain, optimize routes, and execute tasks accurately, thereby minimizing human error, reducing the risk of accidents, and improving worker safety.
Furthermore, AI-based predictive maintenance systems can detect anomalies and proactively schedule maintenance activities and extend the life of mining assets.
AI also has the potential to promote environmental sustainability by optimizing the mine planning process and taking into account key factors such as land reclamation and habitat restoration.
