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Former Federal Court Justice Iain Ross has been appointed to lead South Australia’s royal commission into the risks and opportunities of artificial intelligence.

The Australian Prudential Regulation Authority has released a series of proposals to strengthen superannuation investment governance in the wake of the $1 billion collapse of investment funds Shield and First Guardian.

The corporate regulator said Wednesday it would review the banking sector’s use of artificial intelligence to ensure customer protections have not been lost in the rush to adopt AI tools.

A law firm has urged a judge to sign off on a record $37.5 million group costs order in a class action over Victoria’s hotel quarantine debacle that settled for $125 million, saying it spent more than expected in running the case.

As law firms increasingly embrace AI in their work, it's just a matter of time before they face negligence and other claims over their use of the technology, according to one expert. 

ChatGPT owner OpenAI has apologised after one of its AI models gained non-public access to a Medicare reporting service operated by Services Australia.

Lawyers have welcomed a judge's orders that AI be used in class actions to improve efficiency, but warned it could remove opportunities for junior solicitors to hone necessary skills. 

The Queensland Court of Appeal has thrown out a case by a local cricket club that sought to challenge a regional council's decision over a park lease, a case it said was a lesson in the perils of using AI instead of lawyers.

Data centre operator AirTrunk has secured access to documents from competitor Zerra DC -- including the complete set of design documents for a Victorian data centre -- as it weighs a potential intellectual property case.

Following fierce opposition by local residents, Goodman Group has withdrawn its plans to build a $1.2 billion data centre in Sydney's leafy Lane Cove, citing the evolving regulatory environment.