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In creating Medicare, Australia didn't beg or obtain from elsewhere. We built for the very best, by developing for ourselves. That thread goes through our national story. As innovators and creators, in science and research, in farming and energy. And in democracy, progress and fairness too. Back when the industrial revolution was essentially changing the shape of the economy and the nature of work the minimum wage and eight-hour day were extreme experiments.

We were the very first nation in the world where ladies could stand for Parliament and vote in elections. And these were complimentary and fair elections, performed by secret tally - something other democracies called 'the Australian ballot'. In the 1990s, universal superannuation was questionable. Today, in almost every conference I have with foreign leaders and global financiers alike, they raise our very system as world-leading.

That its challengers were too effective to listen, or change. We also knew that our action would send out a signal and set a requirement.

Australia's social media restriction began these same discussions right all over the world. By the time I was at the United Nations in September in 2015, countries were seeking us out to find out about the approach that we were taking. Today, more than 20 nations have implemented or are implementing social media age restrictions of their own.

That is a credit to the guts of Australian parents, people who directed unimaginable sorrow into a selfless call for action. And it is proof of what Australia can do, when we back ourselves. When we apply our enduring worths to the difficulties that are provided by new innovations. We can set a requirement that alters the method the world looks at a concern and handle it.

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Imagine the distinction it would have made if these limits had actually been put in location when the world first understood the dangers of these platforms. When we first understood their reach and undoubtedly their power. That is the opportunity and the choice - we have now with Expert system. From smartphones to rooftop solar, Australians have constantly been passionate adopters of new innovation.

Not as a novelty, or a search tool. It's assisting small company owners cut the time they invest on documents. It's constructing new screening tools for cancer and illness.

Nor would we desire to. That would just suggest cutting ourselves off from the chances which are there to be seized and leaving ourselves open to threats developed somewhere else. The fact that we can not stop modification, does not render us powerless, vice versa. Our power, our firm, our option depends on embracing change and shaping it.

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And constructing our sovereignty and our economic resilience as a result. That's why we are serious about attracting frontier AI investment to Australia. Because we want AI to support and produce good jobs, not replace them. All of this is a bigger obstacle - and a bigger opportunity - than social networks, no question about that.

We have the benefit of geography. The growth of AI needs a physical, material footprint. It requires our land and energy and computing power to run. That suggests we can set the terms, we can figure out AI's social licence. But we need to do it now. We can not revisit this concern after companies have constructed whatever they desire, anywhere they want, and attempt and after that re-open settlements.

It is not a question of 'if' or 'when' AI will transform our economy, we are past that. The concern that matters, the choice that we have - is how. How we use our long-lasting worths of fairness and chance to make this technology work for us. For employees and communities, for our economy and our environment, for our creative industries and media.

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Our country is home to worldwide leaders in AI - and I am pleased numerous are here with us today. You do not need to be a professional in AI to have a say or a stake in it. We are all involved. Due to the fact that the genuine problems AI presents are not technical ones - they are financial ones, legal ones, social ones, and as Pope Leo has made clear in his exceptional very first Papal Encyclical, Magnifica Humanitas, there is also ethical and spiritual ones.

Recently, the Department of Work and Workplace Relations released real-time, data-driven analysis of AI's influence on the labour market. The first research of this kind by any government throughout the world. It found that while some roles are changing, graduate work is high. Software and tech jobs are growing.

And participation is at record highs. Our competent and varied labor force is just among the reasons that the world is queuing up to invest in Australia. Consider what global investors search for and after that think of what we have: World class universities, producing competent graduates and high-quality research. The traditional resources, vital minerals and uncommon earths that are necessary.

Strong bonds with the fastest growing area of the world in human history. A legal and monetary system at the top of the international ladder for integrity, the security of deals, timeliness of payments and clever use of technology.

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Just as our Federal government's Future Made in Australia agenda has to do with maximizing these nationwide strengths making more things here, to make ourselves more durable and more sovereign we should bring this very same ambition to the chances of AI.We can not opt for a short-term boom in capital expense and building and construction.

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And while the world is wanting to us, we understand it won't await us. If we hang back, or stand still, this will run right over the top of us. And if we descend into self-doubt, or wander out into the worldwide market as a disparate collection of states and councils and business and companies, instead of one country, then others will compose the rules and - perhaps - they will play by them.

It would suggest subcontracting our sovereignty and security to the control of foreign monopolies. And relegating our employees and our economy to the last link of the digital supply chain. We can not - and we will not - accept that for Australia. The unavoidable lesson of the worldwide instability of the 2020s, is that if we are constantly reliant on someone else, elsewhere, we will always be vulnerable.

It is why we legislated to keep the NBN in public hands. That even as interactions technology is progressively dispersed among various networks and abroad interests, Australians keep sovereignty over our high-speed internet. Our terrific country can be far more than a data warehouse for AI products made overseas.