Artificial intelligence: No longer a future challenge

Artificial Intelligence (AI) often reminds us of Hollywood with films such as The Terminator and The Matrix presenting dystopic futures where humans and robots face off in epic battles. However, AI and automated decision-making (ADM) are increasingly being adopted in organisations across Australia. It is estimated digital technologies, including AI, will be worth $A315b to the Australian economy by 2028. The Federal Government recently completed consultations regarding potentially regulating AI and ADM, with Governance Institute of Australia lodging a submission in response to the issues paper. This article discusses the technologies, the potential they offer and the challenges they pose.