There is a “pressing” need to educate Australian businesses about the potential benefits of artificial intelligence (AI) systems, Minister for Science and Industry Ed Husic says, with the federal government considering ways to bridge the gap between curious enterprises and technology providers.
Rapid developments in language-processing models like OpenAI’s ChatGPT and continual upgrades to machine learning systems have grabbed public attention in recent months, causing businesses big and small to now contemplate how AI could work within their organisations.
A new CSIRO report, released this week, found Australian businesses with active AI integrations report an average revenue benefit of $361,000.
However, the report suggests there may be a disconnect between AI system providers and the needs of their clients, while interested businesses struggle to find partners capable of delivering end-to-end AI integrations.
Speaking to SmartCompany on Thursday, Husic said the pandemic-induced rush to digital and online business systems — many of which already boasted AI functionality — proved local firms are capable of adopting next-generation technology.
“Businesses have seen what it means to use technology to keep businesses going and propelled,” he said.
“And now it’s a moment of saying, ‘Okay, we’ve learned from the pandemic, but have we truly learned, and will we now take this to the next level?’”
To seize the potential benefits of AI adoption, lawmakers are now considering ways to educate small businesses and connect them to relevant AI service providers, Husic said.
“There is a body of work that has to be done in this field… We’re going to have to have a collaborative way in which we develop those mechanisms that will help meet that [need],” he said.
Lawmakers have already forged ahead with plans to boost AI awareness in the SME space: in April last year, the Morrison government announced $44 million in grants to establish four ‘Artificial Intelligence and Digital Capability Centres’ nationwide.
The program is continuing, according to the official government website, with applications currently under assessment.
Nevertheless, Husic said existing efforts to boost private sector awareness are “under-done”.
“I think governments traditionally haven’t done enough to help bridge that gap,” he added.
“I’ve looked at some of the stuff that I’ve inherited in terms of SME awareness-building, and I think there’s more that we can do.
“That work is ongoing, but I do recognise that it is pressing to get that done.”
Husic’s comments on AI collaboration coincide with the release of a new Productivity Commission report, which found Australia’s average annual productivity growth dwindled to 1.1% over the past decade, and suggests wages could decrease 40% in the future if that trajectory continues.
Education around AI is important in the quest for heightened productivity, the minister added, given the need for workers to effectively and ethically utilise its capabilities.
“I never want to say that just using more technology will lead to an uplift in productivity of itself,” Husic said.
Senior Business Journalist
Focused on the small business sector, David’s work covers the political, regulatory, and economic issues facing Australian entrepreneurs. Prior to joining SmartCompany, he was a reporter for Business Insider Australia. You can follow him on LinkedIn.
