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Australian financial services is the most heavily supervised sector for AI deployment in the country. APRA, ASIC, and the OAIC each set expectations within their remits, and prudential standards such as CPS 230 reach AI through operational resilience and third-party risk.
Australia takes a voluntary, principles-based approach anchored by the Privacy Act and the AI6 Guidance for AI Adoption, with sector regulators setting expectations within their remits.
Key regulators include OAIC (Office of the Australian Information Commissioner); APRA (Australian Prudential Regulation Authority); ASIC (Australian Securities and Investments Commission); ACCC (Australian Competition and Consumer Commission).
Australia takes a voluntary, principles-based approach anchored by the Privacy Act and the AI6 Guidance for AI Adoption, with sector regulators setting expectations within their remits.
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