According to the bill, companies will be required to:
Maintain security controls throughout the development and implementation process of artificial intelligence.
identify and manage serious risks posed by their models.
to enable independent evaluations of their models.
Quickly report serious incidents to the Australian Government.
Publish safety and security frameworks that will include corporate governance, risk management and transparency.
adapt themselves to updated standards as artificial intelligence technology develops.
The measures are designed to identify new risks, including those posed by rogue artificial intelligence agents, and enable faster responses to serious incidents.