In 2015, the Committee for Economic Development of Australia (CEDA) reported that automation could replace an estimated 40 percent of Australia’s workforce within the next 20 years. That’s approximately five million jobs that could be replaced by robots.
“Australia must embrace AI revolution with automation set to affect every job”, a report quoted by ABC says.
Australia should double its pace of artificial intelligence and robotics automation to reap a $2.2 trillion opportunity by 2030, while also urgently preparing to support more than 3 million workers whose jobs may be at risk, according to a new report.
- Every worker will be affected as AI ramps up over next 15 years;
- Australia lagging on take-up of AI and may miss opportunities, report says;
- The government must look to have workers redeployed, not retrenched.
Where are we in 2017?
If the rate of automation is doubled, it will take away on average four hours of work each week from Australian workers over the next 15 years, according to another 2017 study by economics and strategy consulting firm AlphaBeta.
If the rate of automation is doubled, it will take away on average four hours of work each week from Australian workers over the next 15 years, according to another study by economics and strategy consulting firm AlphaBeta.
But the benefits will only flow into the national economy if workers are redeployed, not retrenched. For most of Australia’s 12 million workers, it means their jobs will likely change rather than disappear.
The tasks most likely to be automated are typically the most dangerous, least enjoyable and often lowest paid, the report says.
Giving them to robots or AI could lead to an 11 percent fall in workplace injuries, a 20 percent rise in wages for workers who are redeployed to non-automatable tasks, and an increase in job satisfaction for 62 percent of low-skill workers as they focus on more creative and interpersonal activities.
But Australia could miss out on these opportunities because business is not embracing AI automation fast enough, according to the report, which was commissioned by Google.
For younger generations, the transition could be painful, with fewer entry-level jobs available to support study or launch a career. Why? Because technology controls the world! Can you afford not to step up and enrol your child at the Robotics Academy?