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Australia – AI and automation will cause job market to shrink 11% by 2030, research finds

10 March 2021

Australia’s job market will shrink by 11%, or 1.5 million workers, by 2030, as artificial intelligence and automation continue to reshape workforces globally, a new report from research and advisory firm Forrester says.

The report found that employees in finance, accounting, and procurement who perform highly structured administrative tasks are most at risk with automation likely to eliminate a million of those jobs first.

Forrester’s study analysed 391 occupations tracked by the Australian Bureau of Statistics. To identify the jobs that will be most affected, the report grouped the occupations into 12 automation categories that share common skills and activities.

“As automation gets more advanced, some jobs will be lost, new ones will be created (1.7 million by 2030), and several others will transform into the gig economy. Workers unable or unwilling to accept the transition will depart the traditional workforce entirely,” the report stated.

“Some of the biggest challenges that firms face in embracing automation technologies relate to culture and change management,” said Sam Higgins, principal analyst at Forrester. “It’s critical that policymakers and employers learn how to minimise the number of digital outcasts by measuring the ability of individuals and organisations to adapt to, collaborate with, trust, and generate business results from automation, or else over 1 million Australian workers may be left stranded beyond the next digital divide.”

The report also found that demand for tech specialists with skills in big data, process automation, human/machine interaction, robotics engineering, blockchain, and machine learning will offset the 8% of more traditional technology roles that can be fully automated by 2030.