Outsmarting risk - how AI can protect Australian businesses
Running a business in Australia is fraught with legal obligations.
Our local businesses must follow complex laws, manage risks, act ethically, and protect the environment.
Despite their best efforts, businesses often struggle to keep up with these demands. This creates inefficiencies and legal risks.
This is why we’re introducing Australia’s AI Sprint.
This program is designed for innovative people like you to develop new AI tools to solve these governance problems.
Here's a look at three key areas where AI can make a big difference.
Regulatory compliance in a changing world
Have you ever tried playing a game where the rules keep changing? That's what it’s like for businesses with regulations. Especially those that work across the globe in many different regions and industries.
AI can help track these changes and predict what new laws might come next, keeping businesses compliant and ahead of the curve.
Complex risk management
Modern risk management is complex. Global supply chains, cybersecurity threats, and financial fraud need a comprehensive approach to find and reduce risk. Traditional methods for spotting these risks can be slow and clunky, as they’re unable to offer real-time data and insights.
AI can help by analysing data to find hidden patterns that might signal trouble before it happens.
Ethical standards and sustainability
High ethical standards and sustainability build trust and customer loyalty. But doing this consistently across a large organisation is a real challenge.
AI can analyse data to identify areas where businesses can improve – helping them reduce waste and be more ethical. This also reduces the risk of non-compliance and reputational damage.
How can you get involved?
Australia's AI Sprint is a collaboration between Stone & Chalk, the National AI Centre and Google Cloud.
We’re offering support and resources to help innovators like you turn your ideas into sustainable business opportunities.
Applications close 21 March 2024. Apply now.
Fair and transparent governance is just one issue facing businesses in Australia. Read more about the other AI Sprint Opportunity Statements where you can contribute.
