Unlocking AI’s next leap forward: empowering SMEs to lead the way

While comprehensive, the original standards could be challenging for smaller organisations to access and adopt. They provided important principles but lacked the simplicity and flexibility needed for widespread adoption – especially among Australia’s small and medium-sized enterprises (SMEs).

AI as a driver of Australia’s productivity future

The recent findings of the Productivity Commission point to AI as a cornerstone of a new wave of productivity growth. If adopted responsibly, AI could help usher in a society where essential services are more affordable and widely available, while also fostering more meaningful work for Australians.

Technology has often promised to transform productivity – and AI represents the next chapter in that story. History reminds us that the benefits of such innovations are realised only when adoption is broad and inclusive.

SMEs hold the key to unlocking AI’s promise

To truly harness AI’s productivity potential, we must empower SMEs to adopt it confidently and responsibly. SMEs are the engine room of the Australian economy, making up 97 per cent of all businesses and contributing around half of our GDP. If these businesses are left behind,

Australia risks missing out on AI’s biggest economic and social benefits.

SMEs today have access to an incredible array of AI options – a sign of just how quickly innovation is moving. Yet with so many of the most powerful AI models being based overseas and not subject to the same data protection standards or local regulations as Australian and New Zealand businesses, it can be difficult for business owners to identify which tools are safe for them, especially when there’s pressure to stay ahead of the curve.

Until now, there has been a distinct lack of clear, accessible guidance written for SMEs on how to embrace AI without putting their businesses or customers at risk.

Bridging the gap: Why the new guidance matters

The NAIC’s new Guidance for AI Adoption addresses this gap head-on. It offers a practical, confidence-building entry point for SMEs beginning their AI journey.

For SMEs, the guidance provides much-needed, accessible, step-by-step actions. It includes templates and tools such as an AI policy and a risk assessment guide to help businesses assess where they are on their AI journey and plan next steps. By following the Guidance, SMEs can build internal trust, improve decision-making, and reduce risks such as bias, privacy breaches, or reputational damage – all while preparing for future regulatory or customer expectations about responsible AI use.

The Foundations document lays out the core steps to start safely, while the accompanying templates give businesses the governance building blocks they need to move forward responsibly.

This kind of pragmatic, plain-English guidance is exactly what Australian SMEs need to turn AI from a buzzword into a business advantage.

MYOB’s commitment to safe and responsible AI

For MYOB customers, this guidance reinforces our approach. Our latest suite of AI products is aligned with NAIC’s more comprehensive Implementation Practices framework – the successor to the VAISS. This alignment provides a streamlined, transparent process for ensuring our AI solutions are designed, built, and maintained with safety and trust at their core.

As we help Australian and New Zealand businesses adopt AI, our commitment is simple: to make AI work for businesses – safely, responsibly, and with confidence.

Julian Vido is the AI safety lead at MYOB.