Preparing Australia's Workforce for Generative AI
21.03.2024 - 04:06
Our new research ‘Preparing Australia’s Workforce for Generative AI’ in partnership with LinkedIn, examines the potential influence generative AI could have on Australia’s workforce. Our report finds that generative will transform the workplace for 7.2 million Australians by creating opportunities for productivity gains. The influence of generative AI is expected to vary significantly across industries, with the effect expected to be greatest amongst service-related sectors, which are also large sources of employment in Australia.
Generative AI will change the skills composition of Australian workers
Generative artificial intelligence (AI) has emerged as a new technology and tool at the disposal of everyone. It is a subset of machine learning using foundation models that specialises in generating output based on training data and user input.
To identify the potential impact of generative AI on the Australian workforce, we have leveraged LinkedIn's Economic Graph data to understand what skills could be replicated by generative AI and what skills would need to be performed by a human but could be complemented with generative AI. Based on this skills-based framework, jobs can be classified into three categories: (1) Augmented: jobs where the core skills include a large share of both GAI-replicable and GAI-complementary skills; (2) Disrupted: jobs where the core skills include a large share of GAI-replicable and a relatively low share of GAI-complementary skills; and (3) Insulated: jobs that have a relatively small proportion of GAI-replicable skills in their core skills.
Generative AI will transform the workplace for 7.2 million Australian workers by creating opportunities for productivity gains
There are 7.2 million workers who will need to re-skill and adapt to the potential opportunity that generative AI presents.
There are 3.3 million workers who will likely use generative AI to augment their work, while another 3.9 million will likely use generative AI to carry out more routine and predictable tasks to focus on greater value-adding activities.
Service-related industries are most likely to be influenced by generative AI – these industries are typically larger sources of employment
While the influence of generative AI is seen at the skills and occupation level, it will also have a varying degree of effect by industry.
Industries that are most likely to be affected are service-related industries, which are typically larger sources of employment for Australian workers.
Read and download the full report here.
Read our latest posts
Growing Australia's iron advantage
Our latest report, commissioned by Boundless, presents new research that reveals Australia's ability to competitively supply 20% of global green iron by 2050. This would reduce global steel emissions by 1.7% - surpassing Australia's current total emissions of 1.2% - while adding $103 billion to the economy and supporting 27,500 direct jobs. However, realising this opportunity requires addressing significant challenges including a significant build out of renewable energy generation, storage and transmission and the commercialisation of green iron technologies. Urgent policy support is needed to address these challenges and unlock private investment.
28 Nov, 2024
The Australian Health and Medical Research Workforce Audit
The Australian Health and Medical Research Workforce Audit provides a detailed snapshot of Australia’s health and medical research workforce, highlighting its characteristics, career pathways, and challenges. Drawing on desktop research, surveys, and profile analysis, the report reveals that approximately 39,690 researchers work in the field, with 65% in traditional university and institute roles and 33% in private and clinical settings. Although women make up 52% of the workforce, only 25% hold senior positions, indicating a gender gap in leadership. Over 40% of researchers are from overseas, adding diversity and global connections, while Victoria employs the most researchers, with a notable underrepresentation in regional and remote areas. Despite a shared passion for research and societal impact, many researchers face challenges with funding and job security, and in the past five years, over 60% have moved into non-research roles where they continue to contribute as leaders and managers in related fields. This audit provides valuable insights into the strengths and development opportunities within Australia’s health and medical research workforce.
12 Nov, 2024
Beyond the visa cap: Why restricting international students won't solve Australia's housing crisis
Our latest report in partnership with Student Accommodation Council examines the impact that the Government’s proposed international student visa caps will have on Australia’s metropolitan rental markets. The report demonstrates that while visa caps would significantly harm Australia's economy, they would do little to address housing affordability. International students comprise only 6% of Australia's rental market, with 39% living outside the general rental market entirely. The proposed caps would reduce metropolitan rents by just $5 per week while costing the Australian economy $4.1 billion in GDP and 22,000 jobs. Universities would face $600 million in annual revenue losses. As Australia's fourth-largest export, international education contributes $63 billion to the economy and supports 335,000 jobs. Rather than capping student numbers, the report recommends addressing housing affordability through targeted policies, including reducing tax barriers to foreign investment in student housing and developing purpose-built student accommodation (PBSA) specific legislation. These measures would help maintain Australia's competitive edge while addressing housing pressures through increased PBSA supply.
11 Nov, 2024
Australia’s opportunity in the new AI economy
Our latest research collaboration with Microsoft has just been released, highlighting Australia's most promising opportunities in the new global AI economy. This study identifies key areas where Australia can leverage its strengths in AI applications, AI data centres, and data to drive significant economic growth, create new jobs, and enhance our digital resilience.
7 Nov, 2024