The appointments were announced by Premier Peter Malinauskas on Thursday, with Dr Ross joined by former Tech Council of Australia chief executive Kate Pounder and Stanford University artificial intelligence expert Professor Christopher Manning.
"They start their work today. There is no point in mucking about here, particularly given the speed at which this is moving," Mr Malinauskas said.
The royal commission is expected to deliver a report to the government no later than July 1 next year. Its terms of reference task the inquiry with examining the economic and societal opportunities and implications resulting from AI in South Australia, including opportunities, barriers and policy settings for AI to improve productivity, innovation and economic growth.
The inquiry will also consider how SA can leverage the social benefits of AI while safeguarding people and society from risks, and what legislative frameworks are needed to encourage safe and responsible development, deployment, adoption and use of AI across industry, government, research and the community.
Minister for Artificial Intelligence Chris Picton said the technology had brought changes at a rapid pace to the workforce, schools and the broader community.
Mr Malinauskas said Dr Ross's expertise was critical because one of the key focuses of the royal commission was the implications of AI for the future of work. Dr Ross is a member of the Reserve Bank's monetary board, chairs the Net Zero Commission and previously served as president of the Fair Work Commission.
"Iain has a full appreciation of how government policy can have an impact on the way we work," the premier said.
He said Ms Pounder would bring expertise in industry policy development, while Professor Manning, who is based at Stanford University in California, had been "at the forefront of the development of artificial intelligence technology".
"[Professor Manning] provides us access to the heartbeat of the industry and understanding the way this technology is evolving," Mr Malinauskas said.