World leaders urge AI guardrails as Australia debates superannuation home loan plan

Anthony Albanese and more than a dozen world leaders have issued an urgent plea for global guardrails to ensure AI remains "under human control", in a demonstration of middle powers flexing their collective muscle, as the US and China fight for global dominance.

In an alarming statement — issued on the eve of the United Nations General Assembly (UNGA) in New York — the 22 signatories warn "the pace of development could outpace our ability to manage emerging risks" and efforts to ring-fence it are failing.

First flagged by Albanese on Saturday, the declaration warns capable AI systems have already managed to circumvent testing safeguards and gain unauthorised access to real-world systems.

"The rapid development of frontier AI models poses serious risks to safety and security if not appropriately managed," the statement reads.

The coalition of middle powers — including Australia, Finland, Norway, Canada, Singapore and the European Commission — calls on AI companies to develop transparent safety protocols and governments to develop and coordinate common standards.

Read more about the statement at the link below

A plan for Australians to use their superannuation to make it easier to secure a home loan is set to be floated by Shadow Housing Minister Andrew Bragg.

The proposal, which has not been adopted as Coalition policy, would allow individuals to use their retirement savings as collateral for a mortgage or to increase the size of a loan.

Bragg will make the pitch in an address to the Financial Services Council today. He first floated the idea a couple of weeks ago after One Nation released its own superannuation policy.

"Why should we live in a nation where big institutions own houses by virtue of government policy but people can’t use their own money to get a home or reduce their own mortgage?" he's expected to say, according to a copy of his speech.

The Coalition went to the last two elections with a proposal to allow individuals to withdraw up to $50,000 for a first home deposit.

Bragg stressed none of the options floated in the speech were opposition policy but the Coalition has an "open mind".

"They are options worthy of a debate in a country like Australia," he's expected to say.

Hi friends. Welcome to our politics live blog. I'm Courtney Gould from the ABC's Parliament House team, here to guide you through the day.

Prime Minister Anthony Albanese is in New York ahead of a meeting of the United Nations General Assembly. He joined with other nations to release a statement calling for AI guardrails.

Back at home, expect Treasurer Jim Chalmers to be out and about this morning following the release of yesterday's intergenerational report. Meanwhile, the Coalition is kicking off another round of the superannuation wars as the shadow housing minister floats a plan to allow people to use their retirement savings for a home.

Let's go.