The Technology Impacts on the Australian Workforce report highlights the significant and far-reaching impact of emerging technologies on the Australian workforce in the next fifteen years and how the growth in technological capabilities is already transforming supply chains, reshaping the workforce and redefining jobs. Prepared by artificial-intelligence (AI) analytics platform Faethm in conjunction with ACS, the report finds that 2.7 million Australian jobs are at risk from automation over the next fifteen years, but more than twice as many jobs can be created if Australia decides to invest in the skills development of its workforce.
As jobs are augmented by technology, the tasks performed by a range of workers across the labour market are evolving at an unprecedented rate, driving demand for new skillsets. Education and re-skilling the Australian workforce will be crucial in preventing long-term structural unemployment and rising inequality. We need to enable continuous learning programs that provide real-time skills acquisition, on-the-job training, and experience-based rapid knowledge transfer, to transition our workforce from declining to emerging opportunities.
Emerging technologies are transforming all industry sectors. By 2021, automation is set to displace 602,700 Australian workers. However, this technological transformation being driven by the Fourth Industrial Revolution will also create new and exciting opportunities. Over the next 15 years, an additional 5.6 million new jobs could be added to the Australian economy and 25% of these new jobs will be technology-related roles. Globally, other nations’ investment in skills development and transition to date far outreaches Australia’s spending. ACS calls for a macro, cross policy approach to be adopted by government to ease the impact on the workforce and address any resulting skills shortages.
Read the report to find out how your industry, occupation and role will be affected by automation and augmentation in the near future. The report provides deep insights for businesses to inform future workforce development plans, as well as for policy makers to maximise the participation rate of all citizens with regards to opportunities afforded by the Fourth Industrial Revolution.