A group of Australian business leaders are calling for a national debate on the ethical issues related to AI as businesses rapidly invest in these technologies. They have signed an open letter to AI and ethics experts saying that despite AI’s potential to deliver tremendous benefits, there are significant risks and challenges that need to be addressed. “Be they ethical algorithms for autonomous vehicles, bias in AI-powered hiring processes, the impact of fake news bots or the potential to entrench ongoing exclusion on the basis of gender and minority status,” they said in the letter. “Or the lack of a regulatory and ethical framework, as the pace of development of smart technology leaves the old, dumb law struggling to keep up.” Business people who signed the letter include: Stuart Fuller and James Mabbott from KPMG Australia; Genevieve Bell, director, 3A Institute at the Australian National University; Ross Buckley, Scientia professor at the University of New South Wales; Nicole Gillespie, professor in management at The University of Queensland; Toby Heap, founding partner at H2 Ventures; and David Thodey, chairman at the CSIRO and JobsNSW. The group said in the letter that each day, there are examples of why a new regulatory framework is needed. “We are currently learning more about the complexity and use of algorithms as highlighted by the Australian Competition and Consumer Commission in its Digital Platforms Inquiry,” the letter said. “The concerns we feel about new technology solutions are very real. They touch on issues related to privacy, job security, control and trust. Whilst there has been much debate, there has been little progress in how AI should be regulated. We believe that Australia must explore the need for specific organising body to guide and advance the development of ethical frameworks, policy, and regulation as they relate to AI.” The letter has been released ahead of the first Artificial Intelligence Forum in Sydney on February 7. Follow CIO Australia on Twitter and Like us on Facebookhellip;Twitter: @CIO_Australia,Facebook: CIO Australia, or take part in the CIO conversation onLinkedIn: CIO Australia Follow Byron Connolly on Twitter:@ByronConnolly Related content brandpost Sponsored by Azul How to maximize ROI by choosing the right Java partner for your organization Choosing the right Java provider is a critical decision that can have a significant impact on your organization’s success. By asking the right questions and considering the total cost of ownership, you can ensure that you choose the best Java p By Scott Sellers Dec 04, 2023 5 mins Application Management brandpost Sponsored by DataStax Ask yourself: How can genAI put your content to work? Generative AI applications can readily be built against the documents, emails, meeting transcripts, and other content that knowledge workers produce as a matter of course. By Bryan Kirschner Dec 04, 2023 5 mins Machine Learning Artificial Intelligence feature The CIO’s new role: Orchestrator-in-chief CIOs have unique insight into everything that happens in a company. Some are using that insight to take on a more strategic role. By Minda Zetlin Dec 04, 2023 12 mins CIO C-Suite Business IT Alignment opinion Fortifying the bridge between tech and business in the C-suite To be considered a tech-forward company today, there has to be a focus on tech fluency across the C-suite, which creates a unique opportunity for CIOs to uplevel their roles and expand their footprint across the enterprise. By Diana Bersohn and Rachel Barton Dec 04, 2023 7 mins CIO Business IT Alignment IT Strategy Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe