Artificial Intelligence is transforming everyday life at a rapid pace, but realising its full potential in a way that is responsible, trustworthy and safe will require careful consideration and strategic implementation.

Australian universities must refresh their education and research strategies to drive an AI-first transformation that delivers equity to the higher education sector and innovation across the national economy. 

Organisations must begin to recognise prompting as the conduit that interlinks Gen AI with its workforce and their collective domain expertise.

Policymakers need to deepen the efforts to align their approaches, develop international standards and promote ethical principles that ensure AI is developed and deployed for the greater good.

As experts in both advanced analytics and risk management, actuaries offer a crucial perspective on Australia's proposed AI regulations. Involving AI practitioners could be the key to creating effective guardrails that harness AI's potential while mitigating its perils.

Governance Institute of Australia and the National Artificial Intelligence Centre have partnered to launch the white paper AI Ethics and Governance. As the transformative power of AI continues to grow, Australian business leaders must tackle the challenges for adoption to fully canvas the opportunities and potential for innovation, efficiency. They must also look at the ethical dilemmas and provide thoughtful leadership, underpinned by robust frameworks, that will ensure effective and impactful adoption. This paper was informed by three expert roundtables attended by governance, risk and technology leaders and AI experts, to provide a real and meaningful insight.