The country’s competition and corporate regulators are not doing enough to tell businesses how to apply existing rules in the era of artificial intelligence, the Productivity Commission’s Stephen King says.

Though the government is only weeks away from announcing mandatory guidelines for the use of high-risk AI, many of the potential harms from the new technology were already well and truly covered by existing rules and regulations, Mr King, a commissioner, said. But the regulators were not stepping up to explain how those laws might apply, he added.