Source : Perth Now news
Maintaining Australia’s social licence will be “crucial” as the federal government seeks to draw investment in AI and power-hungry data centres, Anthony Albanese has warned ahead of a meeting of state and territory leaders.
Mr Albanese will address the Business Council of Australia’s annual dinner on Tuesday before convening a meeting of national cabinet on Wednesday.
The Labor leader is expected to outline for state and territory leaders the government’s new national standard for AI at national cabinet, including minimum obligations for data centres around water and energy usage as well as training regarding copyright, security, and safety.
He will also seek an agreement on the “generational opportunity” of AI.
Addressing the BCA, Mr Albanese is expected to state that Australia can “do more to unlock frontier AI development in Australia”.
“AI adoption will continue to grow as business builds and tests newer capabilities and frontier AI capabilities accelerate,” Mr Albanese will say.
“We must shape this change to harness the positive opportunities while minimising the downsides.”
Mr Albanese will say Australia is in a strong position to attract investment in data centres.
“But maintaining social licence will be essential,” he will say.
“That means ensuring energy bills do not rise, water security is maintained and locations are appropriate.
“Getting this right can ensure Australia is the infrastructure partner for our region, aided by our status as a Five Eyes partner.
“It will advance our national sovereignty, and it is essential for our national security, business productivity, science, innovation and resilience.”
Mr Albanese will state that the objective of all Australian governments should be “to turn our attractive investment settings into a comparative advantage that supports our national interests”, and progress in AI could help Australia see off the “populist challenge”.
“Hosting large-scale AI training data centres, and unlocking frontier AI model training, will help Australia capture a larger share of the economic value, technical capability and strategic influence of AI,” he will say.
“Every country is dealing with these enormous issues, just as I am sure every business in this room is considering the implications of this revolution.
“Australia will be the first to bring the policy response into a single national framework, overseen by a central office, located in my own department.
“Our national economic success and strongly performing national institutions will help us see off the populist challenge now on the march across the globe.
“Australia’s economy and democracy are in an excellent place. By working intelligently together, we will keep them there.”
Tax warning
Australian living standards will continue to fall unless the country can win the battle for global investment dollars, the Business Council of Australia warns.
In a wide-ranging speech at the council’s annual dinner, BCA chief executive Bran Black will also warn Australia needs to become a more attractive place for foreign investment in order to lift living standards.
According to Mr Black, Australia ranks just 21 out of 42 on the BCA Global Competitive Index.
“The simple point is that Australia cannot tax, regulate or redistribute its way to higher living standards,” Mr Bran will say.
“We have to grow and we have to become more productive.
“And, to do this, we have to create the conditions for businesses to invest, innovate, expand and employ more Australians.
“As you know, the good news is that Australia starts with advantages most countries envy.”
To help boost Australia ranking the BCA launched an 18 point road map, aimed at attracting global investment
“For a country with our advantages and our spirit of competitiveness, that’s not good enough and we need to do better,” Mr Bran will say.
“To be clear, however, the ranking itself isn’t the point and nor is investment the end goal.
“Australians getting ahead and staying ahead is the objective underpinning our approach.”
The BCA says the answer to easing cost-of-living pressure isn’t more taxes or handouts but a “laser focus” on growing the economy and cracking the productivity puzzle.
They say this will ultimately lead to higher wages, more homes being built and better services for every Australian.
Part of the plan to help Australia achieve its potential is through the use of AI.
“AI has the potential to lift productivity, attract enormous investment, create new industries and improve the way Australians work and live,” Mr Bran will say.
