Economic Reform Roundtable Submission

Background

Good Ancestors submits that addressing Australia's AI trust deficit represents a critical economic reform opportunity for the Roundtable's consideration. While AI could contribute between $45-115 billion annually to the Australian economy by 2030, Australians remain the least trusting of AI globally, with 69% expressing apprehension about the technology. This trust deficit threatens to cost Australia over $70 billion annually in unrealized economic benefits. Good Ancestors argues that without credible government action to establish mandatory safety guardrails and an Australian AI Safety Institute, the country risks missing the productivity gains essential for economic resilience and budget sustainability—core themes of the Roundtable. We position AI governance not as a regulatory burden, but as a critical economic reform necessary to secure Australia's competitive advantage in the global AI economy while protecting citizens from genuine risks that justify their current skepticism.