The report found that on average Australian organisations adopt only 12 of 38 responsible AI practices.
Fifth Quadrant produced the Responsible AI Index 2024 report in partnership with the National AI Centre (NAIC). It surveyed 413 executive decision makers responsible for AI development across construction, financial services, government, health, education, telecommunications, retail, hospitality, utilities and transport.
Findings include:
- While most organisations believe their AI systems align with Australia's AI Ethics Principles, less than a third of those organisations surveyed have implemented the necessary practices to achieve that ambition. There is a gap between perception and practice.
- Organisations leading in responsible AI practices are more likely to have business leaders (CEOs, board members, owners) driving AI strategy, ensuring strategic oversight and accountability. For these organisations, there is a greater appreciation of the competitive benefits that responsible AI practices offer, including reputation, innovation, operational efficiency and talent acquisition.
- AI standards and Australia’s AI Ethics Principles are influential, and small and medium businesses need more support in order to adopt responsible AI practices.
The Australian Government is working on standards and guidance to benefit Australian businesses to adopt AI safely and responsibly.
NAIC has published the first Voluntary AI Safety Standard to give business best-practice guidance to develop and deploy responsible AI. The Australian Government is consulting on options for mandatory guardrails for the use of AI in high-risk settings.