AI To Speed Up Approvals

The Federal Budget has allocated funding for AI to be used to help speed up assessments of housing and energy projects awaiting environmental approval.

It has allocated $105.9 million over four years to develop an AI tool to help with the assessments.

It also commits $500 million to implement environmental reforms, including about $250 million to establish the National Environmental Protection Agency.

Treasurer Jim Chalmers believes the AI assistance will help increase housing supply.

Housing Industry Association managing director Jocelyn Martin says that modernising approval systems will provide greater certainty for builders, developers and investors, while maintaining strong environmental protections.

“We want systems that are fit for purpose – systems that deliver a faster yes or a faster no. That certainty is essential to getting projects moving and homes built sooner,” she says.

“A digitally enabled, nationally consistent framework will reduce delays caused by the same information being assessed multiple times by different agencies. Removing that duplication is critical if we are serious about increasing housing supply.”