There was much to like in the Prime Minister's speech on the government's response to the challenges and opportunities created by artificial intelligence on Wednesday.

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Mr Albanese was upfront about his belief that AI is, in the main, a positive development with the potential to improve the human condition in this country and around the world.

He acknowledged the world-changing nature of the new technology, which has already permeated almost every aspect of people's daily lives, referencing his own experience as a young bank teller in the 1980s: "None of us could have imagined a world where most people did their banking from a phone," he said.

The Prime Minister made a strong case for the need to regulate AI, including ensuring data centre developments - which already consume 2 per cent of the power in the national grid - don't hoover up the land and resources needed for housing, arguing it was too important to be self-policed by the industry.

"It is not a question of whether 'if' or 'when' AI will transform our economy, we are past that," he said.

"The question that matters is ... how we apply our enduring values of fairness and opportunity to make this technology work ... for workers and communities, for our economy and environment, for our creative industries and media ... if we hang back, or stand still, this will run right over the top of us."

The government's commitment to preserving intellectual property rights in the face of high-level lobbying........

© Canberra Times