Banking News –  Australian Prime Minister Anthony Albanese has announced that the government will introduce new legislation to regulate the use of artificial intelligence (AI) and strengthen the protection of creative copyright.

Speaking during a policy address outlining the government’s agenda, Albanese said the proposed framework aims to address public concerns surrounding AI while ensuring the technology is developed and deployed in a way that serves Australia’s national interests.

The government is expected to hold discussions with state and territory leaders on the proposed legislation, which is scheduled to be introduced next year. The new law is intended to build public trust in AI, establish clear regulatory guidelines, and safeguard national security.

Albanese noted that while Australia has taken a global leadership role by restricting children’s access to social media, regulating AI presents an even greater challenge due to the technology’s rapid development and broad impact.

The announcement follows reports that U.S.-based AI startup Anthropic has been engaging with Australian authorities regarding potential changes to copyright laws that would facilitate the use of copyrighted materials in AI model training.

In response, musicians, authors, and publishers have urged the government to resist such pressure and strengthen protections for creators. They argue that Australian books, music, artwork, and news content should not be used to develop or train AI systems without the consent of their creators.

According to government data, investment in data centres was the largest contributor to Australia’s economic growth during the three months ending in March, highlighting the country’s increasing focus on AI-related infrastructure.

Albanese also stated that the government has not yet observed a significant impact of AI on Australia’s labour market. He added that the government will continue advancing its AI strategy, including the establishment of a dedicated office to oversee AI policy and regulation.