Report reveals the first jobs AI could replace in Australia: Find out if yours is in the line of fire
Jobs in finance, banking and human resources with high levels of education are most likely to be threatened by generative artificial intelligence and will need new training to adapt, a study has found.
Occupations most dependent on cognitive skills would be the first to be exposed to AI, the Future Skills Organization report released on Friday showed, although roles that rely on manual labor could be replaced in the future.
The findings come after a Tech Council report found that generative AI could contribute as much as $115 billion a year to the Australian economy by 2030 if industries embraced the technology.
The Impact of Genative AI on Skills in the Workplace study, produced in collaboration with Mandala Partners, identified a range of areas likely to be exposed to generative AI at an early stage.
A new report from the Future Skills Organization shows that finance, banking and human resources with high levels of education could be the first to be replaced by AI
Finance, human resources, banking and payroll administration are included, along with marketing and communications.
Other areas such as accounting, business administration and project management would be more likely to be affected by AI than areas such as information technology and engineering.
The study also found that people with higher levels of education, including graduate degrees and certificates, were more likely to be affected by AI, as the fields relied on cognitive and sensory skills in which AI excelled.
Patrick Kidd, CEO of the Future Skills Organisation, said the results show that higher education courses, including university degrees, must evolve quickly to prepare workers and realize the full potential of the technology.
Finance, human resources, banking and payroll were identified as areas at risk of drastic changes due to AI
“While the opportunity to increase our productivity is clear, we should also expect some jobs to be fundamentally changed by AI,” he said.
“AI has the potential to create new ways of doing business, automating, expanding or customizing tasks and ultimately changing the way we create, consume and interact with content.”
Mandala Partners managing director Tom McMahon said understanding the areas where AI can have the most impact is important, both for training employees and closing future skills gaps.
“We know that the impact of generative AI is being felt in workplaces right now, so analyzing this impact is critical,” he said.
“Finance, technology and business roles such as banking, project management, accounting and software development are critical to the functioning and success of our economy.”
The Tech Council found that generative AI could contribute up to $115 billion per year to the Australian economy by 2030 if industries embraced the technology
The report also found that some manual, low and medium-skilled jobs would be ‘automated’ using AI, but predicted this would take longer as the technology would need to become more reliable and less error-prone.
Positions “highly exposed” to AI automation include call center operators, receptionists and clerks, the study found.
The Tech Council predicted that the use of generative AI technology in Australia could boost the economy by as much as $115 billion by 2030 if companies embraced its use, but warned this could only add $45 billion if companies were slow to adopt the technology .