Google Australia’s managing director and VP Melanie Silva has urged WA business leaders to embrace artificial intelligence, but others are advising a cautious approach to the new technology.

“We’re at a global inflection point for AI, and I’ve got no question that we have the talent and resources in Australia to lead the world forward,” Silva said.

A 2018 report by consulting firm McKinsey & Company, estimates artificial intelligent technology will contribute approximately $13 trillion to the global gross domestic product by 2030.

Referencing this figure, Miss Silva asked industry leaders at this week’s The West Australian’s Leadership Matters event how they planned on capitalising on this.

“What slice of the 13 trillion is your organisation going to take and make? What are the conversations that your organisation is having today around AI? Do you know what capabilities you have today in your organisation and what AI capabilities are you going to need tomorrow?”

While the potential benefits of AI can be appealing, it comes hand in hand with a myriad of ethical challenges and risks requiring careful consideration from all who use and consume it.

“We recognise that starts with our own products and services, that’s why we’re investing heavily right now to make sure that people know synthetic content when they see it,” Silva said.

To combat the challenging aspects of AI, such as the emergence of deep fakes and the potential misuse of the technology, Silva says Google has taken a proactive step by implementing its own AI principles to act as an ethical guardrail.

“The goal of our principles is to balance boldness and innovation with a sense of responsibility in our approach.”

However, a report released this week from the Australian Strategic Policy Institute, written by Senior Fellow Simeon Gilding, has highlighted the dangers of using foreign AI-enabled technology and outlined why businesses should be cautious of the use and implementation of it.

Gilding emphasises if we are to be cautious of AI’s ethical conundrums, we should be even more vigilant about the technology coming from foreign countries such as China.

“If reliance on AI is also without precedent, so too is the opportunity – via the magic of the internet and software updates – for remote, large-scale foreign interference, espionage and sabotage,” he says in the report.

He believes a blanket ban on all Chinese-made AI technology would be far too disruptive and costly,

“Many businesses and researchers in the democracies want to continue collaborating on Chinese AI-enabled products because it helps them to innovate, build better products, offer cheaper services and publish scientific breakthroughs,” he says”

Instead, Gilding believes a new approach is needed to safeguard our cyber ecosystems from foreign interference, beginning with audits, identification and regulation.

“What’s needed is a new three-step framework to identify, triage and manage the riskiest products and services.”