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Australia AI Regulation Targets Deep Fakes and False Content, Potential Ban Looms

2 mins
Updated by Kyle Baird
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In Brief

  • The Australian government may ban deep fakes and false content in its bid to comprehensively regulate AI.
  • Other countries have taken various steps to regulate AI, including China and Japan.
  • The AI boom has led to the soaring of Nvidia stock’s price, the market cap of which briefly crossed $1 trillion recently.
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The government of Australia, in a push for AI regulation, may soon ban deep fakes and misinformation. The country may also classify AI technologies by risk.

The sudden growth of AI has led to several governments issuing rules related to the technology. Now, Australia could potentially impose a strict ban on deep fakes and misinformation in a bid to establish comprehensive AI regulation.

Potential Ban on Deep Fakes

Industry and Science Minister Ed Husic, speaking to ABC television, said that there was a concern that the technology might “be getting ahead of itself.” The country’s officials are planning to regulate the AI industry comprehensively.

Issues such as deep fakes and misinformation are the first targets of this regulation, it would seem. Lawmakers want to nip any issues in the bud, and these issues could have the biggest impact on security.

One potential way that Australia may regulate AI is by classifying AI technologies by risk. The European Union and Canada are working on similar systems.

Countries Announce Steps Toward AI Regulation

AI is a chief topic among lawmakers, especially as the United States election looms. The ability of AI to produce both deep fakes and spread misinformation has lawmakers concerned, and as such, several countries are moving to regulate AI.

China, for example, is set to implement a mandatory security review of AI services before they can be released to the public. These services will have to “reflect the core values of socialism, and must not contain subversion of state power.”

Click here to read more on the potential future use cases of AI in the finance realm.

Japan is turning its attention to the abuse of copyrighted material. Lawmakers wish to protect copyright holders from being affected by the growth of AI in various artistic domains. It also seeks to set guidelines for the use of chatbots in education.

United Kingdom Prime Minister Rishi Sunak has also spoken on the subject, telling U.S. President Joe Biden that the U.K. should play a leading role in global AI regulation. The government has already issued a whitepaper on AI.

AI Briefly Takes Nvidia to $1T Market Cap

Meanwhile, technology company Nvidia has received a significant boost from the growth of AI this year. The company recently reached $1 trillion in market cap as a result of the sudden AI development.

Nvidia Market Cap. Source: CompaniesMarketCap
Nvidia Market Cap. Source: CompaniesMarketCap

While it was only for a brief period, joining a select list that includes Alphabet, Amazon, Apple, and Microsoft.

Nvidia has done well in 2023, reporting a $2 billion profit in the first quarter of 2023. The company’s keynote at Computex 2023 had a significant focus on AI.


In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.

Rahul Nambiampurath
Rahul Nambiampurath's cryptocurrency journey first began in 2014 when he stumbled upon Satoshi's Bitcoin whitepaper. With a bachelor's degree in Commerce and an MBA in Finance...