The AIIA has welcomed measures to support long-term national capability – such as investment in STEM education, upgrades to the National Broadband Network, and clean energy transition and investments in the Future Made in Australia program.

While the AIIA acknowledges this is very much a pre-election budget, there is a lack of strategic vision for the digital economy and to respond to the clear challenge outlined in the budget speech where Artificial Intelligence (AI) was stated as one of the five seismic shifts occurring across global economies including Australia’s.

Notably, key policy frameworks underpinning AI and research and development (R&D) remain under review, with funding decisions likely deferred until those processes conclude. Treasury also forecasts in this budget that R&D funding will fall by almost $650 million over the next five years.

The AIIA has reiterated its call for the National AI Capability Plan to be completed before the end of this year so that it can be funded in the next budget round.

AIIA CEO Simon Bush said,“ the AIIA supports the Government’s efforts to lay the groundwork for future reforms, but with the world around us accelerating their AI investments, our productivity at record lows and technology moving at pace, we are falling further behind,”

“Australia has the talent and ambition to lead in digital innovation,” Mr Bush said. “What we now need is a strong, forward-looking strategy – backed by investment – that places technology and digital capability at the heart of Australia’s economic story.”

The AIIA is standing ready to work with the government to ensure the successful delivery of upcoming reviews and to support the development of a national digital economy strategy that can keep pace with international competition and meet the needs of Australian industry and citizens.