The submission suggests strategies for regulating #ai in #australia, including examining the rate of take-up of #automated #decisionmaking systems, and regulating specific applications of underlying AI technologies. It also suggests altering the definition of AI, creating a set of guiding principles, and adopting a #risk-based approach to #regulation.
"This paper ... documents some of the most prominent cases of misconduct, which it summarizes in terms of operational risk losses (using Turner’s framework for analyzing organizational disasters) and also details some egregious examples of operational risk events ..."
"This Article provides a novel heuristic framework for understanding the three elements of Risk, Reward and Resilience (the Triple R Framework), which synthesizes and integrates insights from diverse disciplines and domains. It sets out the drivers of each element, shows how they are connected and sketches the policy choices which they present, before applying the framework to the COVID-19 supply chain shock and China’s economic coercion of Australia."
"In addition to a range of international and domestic sources, our submission draws directly on the research, data and findings that comprise our Financial Services Human Rights Benchmark (FSHRB) launched in May 2021 measuring the levels of human rights risk management and compliance of the largest 22 financial services entities listed on the Australian Stock Exchange."o financial services for all communities, especially those most impacted by climate change. "