AI Mandatory Guardrails

Written By Faraj Sassine

AFIA submitted its response to Industry on 4 October 2024 regarding mandatory guardrails for AI in high-risk settings: proposals paper. The proposal aims to address AI risks across the economy. The Guardrails intend to apply to high-risk settings, with credit applications specifically highlighted in the consultation.

Industry proposed options include:

  • a whole-of-economy Australian AI Act,

  • industry-specific legislation, or

  • a cross-legislative framework.

AFIA emphasises the need to align guardrails with existing legal obligations to minimise inconsistencies, seeks clarity on definitions such as ‘high risk’, and queries the impact of other international obligations and AI regulatory frameworks.

 

View the PDF here.

Faraj Sassine
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