Ayres, Sen Tim

Senator AYRES (New South Wales—Minister for Industry and Innovation and Minister for Science) (14:34): I just make the point, firstly that Australia is an excellent place for artificial intelligence investment, both in digital infrastructure, because of our vast reserves of solar and wind and storage backed by gas—that is what that sector wants to see; that is the power and energy equation that they want to see, because it's the lowest cost for them—and because of our significant space, because of our proximity to fast-growing digital markets in our region, and also because of our secure governance and our stable, secure arrangements, in security terms, with partner economies. That offers— The PRESIDENT: Senator Lambie? Senator Lambie: Point of order on relevance: I'd like to know why we aren't investing in AI in Australia, in our Australian firms. The PRESIDENT: Thank you. The minister is being relevant to your question, Senator Lambie, and I'll continue to listen carefully. Senator AYRES: That's exactly the point, Senator Lambie. Australia is an attractive destination for investors.