Why Australia's Corporate Regulator isn't rushing to regulate AI - in conversation with ASIC

Why is Australia’s corporate regulator cautious on new AI-specific regulation? And, in an age of increasing regulatory influence, what can Chair Joe Longo’s approach reveal about his thinking as a regulatory leader? In this conversation with KWM’s Cheng Lim at our Digital Future Summit earlier this year, Joe Longo implored businesses to innovate with AI, without losing sight of their accountability for its use. Business leaders are urged to understand the tech they employ and the regulatory environment that it operates in.While conscious of AI's potential to create harm, Mr Longo also advocates a careful approach to its regulation - Australia should not rush into introducing new prescriptive rules he says, explaining existing tech-neutral legislation he believes is already applicable.