Australian companies must get ready for AI laws, Addo AI boss Ayesha Khanna warns

Australian companies need to be ready for a new era of regulation around their use of artificial intelligence, warns the boss of an AI advisory firm.

Ayesha Khanna, who is the co-founder and chief executive of Addo AI, said the European Union and several US states had already passed laws around the use of AI.

She predicted that companies would eventually have to make reports on what they were doing around AI in the same way as they were being asked to report on ESG and climate change policies.

"A lot of people are complaining that it's going to stifle innovation, but to be honest, they (the EU) are fundamentally correct."