Artificial intelligence experts are warning of potential large-scale job losses in Australia if people don’t keep up with the evolving technology. The greatest minds in the field gathered at a conference in Perth to discuss what the future looks like as AI kick-starts a technological revolution.
AI Revolution: The Future of Job Market in Australia
Artificial intelligence experts have issued a stark warning about the potential for large-scale job losses in Australia if individuals and industries do not adapt to rapidly evolving technology. This cautionary note was sounded at a recent conference in Perth, where some of the greatest minds in the field congregated to deliberate on the future of AI and its implications for the Australian job market.
According to new data from the United States, one industry that employs more than 415,000 Australians could be halved as a result of AI advancements (News.com.au). Additionally, research by Statista suggests that while AI could lead to the creation of 69 million more jobs worldwide, it could also result in 83 million job losses (ABC News).
The Australian Financial Review reports that the OECD’s latest estimates suggest 10% of jobs in Australia are at high risk of automation (AFR). Furthermore, suburbs such as Baldivis, south of Perth, and Coorparoo in Brisbane’s inner south could see thousands of jobs replaced by AI (Daily Mail).
While some Australians are already replacing staff with AI, experts argue that the future of employment is more about job changes than job losses or gains (SBS).
The AI revolution is not all doom and gloom, however. Experts at the Perth conference emphasised that while some jobs are at risk, AI could also create numerous opportunities in sectors such as healthcare, finance, and technology. The key to navigating this shift, they suggest, is ensuring workers are reskilled and upskilled to keep pace with changing technologies.
As Australia braces itself for the impact of AI on its job market, the importance of proactive measures – such as investment in training and education programs to ensure workers can adapt to new technologies – cannot be overstated. The challenge lies in ensuring that the benefits of AI are harnessed effectively, without leaving workers behind in the process.
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