Australian Government Launches Consultation on Regulating AI

The Australian government is working on modern laws to regulate the responsible use of generative AI, such as ChatGPT by companies like OpenAI. The government aims to ensure AI is used safely and ethically, including banning high-risk uses such as deepfakes and algorithmic bias. The consultation paper also acknowledges the potential benefits of AI, such as driving productivity growth in Australia, consolidating medical data, and optimizing engineering designs. The government believes current regulation, including privacy law and consumer law, can address many AI risks. However, gaps in regulation may be addressed through new laws once regulatory bodies determine their existing powers.