Regulators should adopt a light touch to governing AI and rely on existing regulations as much as possible, rather than creating new ones, or risk bogging down business with more red tape, according to the Business Council.

“We’re at a critical juncture in terms of the government’s approach to AI regulation and the type of model we apply in Australia, whether that’s something closer to the EU and Canadian model, or one that is more flexible,” says Bran Black, CEO of the Business Council of Australia.