Australia is taking big steps to develop its artificial intelligence (AI) sector with a new initiative called the National AI Capability Plan.
Industry and Science Minister Ed Husic announced the plan on December 16. He highlighted the goal is to boost Australia’s presence in the global AI industry.
Meanwhile, Australia already has about 650 AI-focused companies, according to the Department of Industry, Science and Resources. By 2030, AI and automation are expected to contribute hundreds of billions of dollars to the country’s economy each year.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
How to Buy Crypto SAFELY With a Credit Card (Animated)
The National AI Capability Plan focuses on practical solutions, including upskilling the workforce, encouraging investment, and supporting innovation.
Husic stressed the importance of working hand-in-hand with businesses, communities, and workers to ensure everyone benefits from AI advancements. Additionally, Husic explained that the purpose is to utilize Australia’s AI expertise to improve infrastructure and make supply chains more secure.
A key part of this initiative is reviewing the government’s current programs to determine whether they are helping or holding back the AI industry.
That said, some experts are concerned that the timeline for this plan—finalized by late 2025—might not keep up with the rapid advancement of the global AI market.
The CEO of the Australian Information Industry Association (AIIA), Simon Bush, noted that he supported the National AI Capability Plan. However, he believes Husic should accelerate the plan.
As Australia focuses on AI to shape its future, other nations are racing to lead in different tech fields. The US is planning on becoming the top player in the crypto industry. What is Donald Trump’s strategy to make it happen? Read the full story.
