Bold truth: AI can be a nightmare and a necessity at the same time, and Fortescue’s bold carbon-cutting plan hinges on it. Billionaire Andrew Forrest says artificial intelligence is proving essential to decarbonising the company’s operations by 2030, even as he confesses genuine fear about what the technology might become if it goes off the rails.
"Does it wake me up at night?" he asked during an Australian Financial Review business summit in Sydney. "No, it keeps me awake all night. I’ve sat in some of those discussions, and I just thank God that those discussions are taking place." He held up a water bottle to illustrate his point, asking whether it’s merely a projectile or a vessel that holds hydrogen and oxygen. "If the software can’t agree, just in the lexicon, you can imagine what can go wrong."
Fortescue relies heavily on AI, including for autonomous mining operations. The company currently runs more than 200 autonomous haul trucks across the Pilbara. Forrest noted it took Fortescue two years (2019–2021) to align its internal language and definitions—the lexicon—so the system could consistently interpret complex scenarios.
His worry about AI’s dangers is tempered by a recognition of its power. He pointed to geopolitical and defence parallels, referencing tensions around Iran and reports of the Pentagon leveraging Anthropic’s Claude model in critical decisions, suggesting that even tiny moments of miscalculation could have outsized consequences in an AI-enabled world. "That first strike mentality to gain an advantage, even in split seconds, becomes really tempting with AI," he warned.
Beyond safety and security, Forrest is concerned about AI’s impact on the social fabric—its potential to replace the human networks that sustain communities. He recounted speaking with a global AI leader about Fortescue’s challenges with the technology, noting that the other executive acknowledged similar problems but feared speaking out publicly.
Yet Forrest also highlighted AI’s tangible, positive applications. He cited how AI has dramatically improved Fortescue’s ability to balance a highly complex green-energy grid in the Pilbara, especially when clouds shade solar farms or wind patterns shift, causing sudden adjustments across a sprawling 500-kilometer grid. He argues this progress brings Fortescue closer to its 2030 goal.
Fortescue has even used AI in the early stages of green steel development. In a six-year project, executives fed questions to an AI system on a Friday afternoon; by Monday, they had 2,650 simulations offering five distinct recommendations. While Forrest isn’t claiming all would be adopted, the sheer volume and speed impressed him, underscoring AI’s accelerating capability.
"I’m seeing the horsepower of AI rise vertically, and we should all stay alert to that because, like everything in nature, AI has both a bright side and a dark side," he said. "AI is going to be incredibly powerful, but also very dangerous."
Source: AAP
