Some of the biggest businesses in Australia will trial a series of eight principles around artificial intelligence, developed as part of the Morrison Government's AI Ethics Framework. NAB, Commonwealth Bank, Telstra, Microsoft and Flamingo AI have signed up to test the principles to ensure they deliver practical benefits and translate into real world solutions. Minister for Industry, Science and Technology Karen Andrews said AI is a powerful technology that can create jobs, boost the economy and improve our quality of life and is an important part of the Government's economic plan. "The Morrison Government is determined to create an environment where AI helps the economy and everyday Australians to thrive. The eight AI ethics principles are just one part of this vision," Minister Andrews said.

The Australian government's 2018-19 Budget has earmarked a massive AU$2.4 billion for technology and science over the next 12 years in a bid to support "a stronger and smarter economy". "The government will invest more than AU$2.4 billion in Australia's public technology infrastructure," Treasurer Scott Morrison said in his Budget speech on Tuesday night. "This includes supercomputers, world-class satellite imagery, more accurate GPS across Australia, upgrading the Bureau of Meteorology's technology platform, a national space agency, and leading research in artificial intelligence." The government will invest AU$29.9 million over four years in AI and machine learning, which it said would support business innovation across digital health, digital agriculture, cybersecurity, energy, and mining. "This measure will also support Cooperative Research Centre projects, PhD scholarships, and school-related learning to increase knowledge and develop the skills needed for AI and machine learning."