Deloitte has launched a new Australian AI Institute with the aim of advancing artificial intelligence (AI) for good.

As AI and machine learning (ML) technologies continue to advance and become more ubiquitous, this is becoming increasingly important.

The Institute is part of a broader Deloitte Global initiative to drive innovative, impactful perspectives that challenge the status quo, and create game-changing collaboration and research focused on all things AI, as well as its application across private and public sectors, the company states.

While the Deloitte Australia AI Institute will operate in a virtual world and a global ecosystem, it will also be physically located in Melbourne.

Deloitte Consulting partner, and founding AI Institute leader, Dr Kellie Nuttall, says, “The CSIRO estimates that digital technologies, including AI, are potentially worth $315 billion to the Australian economy by 2028.

"Deloitte's AI Institute is about bringing the many dimensions of the Australian AI ecosystem together, to advance the conversation on AI and ML, and their adoption across Australian government and business."

Nuttall says, “We will engage with futurists, corporate leaders, data scientists and next-gen STEM talent to deliver impactful research that supports businesses in translating complicated unknowns into predictable, measurable outcomes.

“And we will examine important questions of how we build ethics and transparency into AI and help organisations remain distinctively human in a technology-driven world.

Deloitte Australia managing partner, Consulting, Ellen Derrick, says, “Deloitte Australia is a market leader in working with clients to deliver technology-driven transformation that drives benefits on so many fronts.

“We know that AI offers so much potential, but are also mindful that a finely honed balance needs to be struck between all of the upside and how humans interact with intelligent machines and big data.

“The Deloitte AI Institute in Australia will ignite the conversation around applied AI and help organisations transform by bringing leading thinking in AI to advance human with machine collaboration.

Deloitte Australia CEO, Adam Powick, also commented on the announcement and the vision for the Institute.

He says, “I remember being an early stage AI developer in the late eighties as the technology was just emerging. Artificial Intelligence has always held much promise for improving business and society, and this promise is now being realised, with the rapid advancement of AI and ML technology over the past few years.

“Our vision for the AI Institute is to connect the global AI ecosystem to our clients, and help drive the best outcomes for them while also advancing the important goal of AI for public good.