In the 2023-2024 Commonwealth Government

Budget, $41.2m was allocated to support Artificial Intelligence (AI) deployment in the Australian economy.

Done

a) Explain what is meant by Al and discuss the main types of Al which businesses can implement.

(10 Marks)

wIn relation to Australian businesses, discuss the potential benefits from adopting Al and discuss the potential challenges of implementing Al.

(20 Marks)

Use the following article as an initial reference source:

https://www.exportfinance.gov.au/resources/world-risk-developments/2023/may/australia-ai-adoption-creates-