According to a recent report from the Tech Council of Australia (TCA), artificial intelligence could lead to 200,000 AI-adjacent jobs by 2030.
The Meeting the AI Skills Boom report, which was created in conjunction with Microsoft, LinkedIn and Workday, predicts this would also inject billions into the Australian economy.
According to the report, Australia’s AI workforce has grown from 800 workers in 2014 to over 33,000 in 2023.
However, meeting the 200,000 by 2030 goal will require a workforce expansion of 500% in the next seven years.
It warns that unless significant reforms are taken, the country may face a skill shortage when it comes to this burgeoning technology.
“Artificial intelligence is one of the leading tech trends and it’s transforming how we work,” Damian Kassabgi, CEO of TCA, said.
“We’ve seen enormous growth in Australia’s AI workforce in recent years, which will only increase with greater adoption of the technologies. This growth won’t be isolated to the tech sector or tech jobs.”
This expansion in the AI sector necessitates not only an increase in the number of workers but also an adaptation to evolving job requirements across both tech and non-tech sectors.
“In addition to roles that are responsible for developing, designing, and maintaining AI systems, we will need people with skills in areas such as human resources, sales, and governance to successfully scale these systems and businesses to harness the potential in front of us,” Kassabgi said.
The report suggests diversifying training pathways, such as increased participation in vocational education and training (VET) or short-course programs, could help fill roles in cybersecurity, product design and more.
Matt Tindale, managing director of LinkedIn Australia and New Zealand, echoed the challenges and opportunities in growing the AI workforce.
“The existing tech workforce is already straining to meet demand, but growing the number of AI development jobs could be achieved by offering alternative entry-level pathways, opportunities for mid-career retraining and upskilling in AI, and drawing on skilled migration, particularly for highly technical roles requiring experience,” Tindale said.
This is far from the first time we’ve heard about the potential effect of AI on the Australian economy. Last month a report from Google Australia estimated that AI could provide a $280 million boost by 2030.
The TCA’s report also found that generative AI alone could contribute $115 billion to the Australian economy, with 70% of this benefit stemming from productivity gains.
Much like the TCA, Google noted that these gains would only be recognised if the country effectively adopts the technology. Unfortunately, SMEs are still lagging behind.
The CSIRO’s latest AI Ecosystem Report found two-thirds of Australian businesses had implemented some form of AI technology as of mid-2023, with a further 23% planning on doing so.
While this is good news, the majority of respondents were from mid to large-size businesses. This is a problem when 97% of the businesses in Australia are SMEs.
According to a report from MYOB from December 2023, only 19% of Australian SMEs were currently utilising AI.
This is something the federal government is addressing through initiates such as its $17 million dollar AI adoption program for SMEs
The Minister for Industry and Science Ed, Husic, also touched on jobs at the TCA’s Tech Innovation Showcase in Canberra on Monday evening.
“It’s often remarked that technology might be something that makes it harder to keep will hold on to jobs,” Minister Husic said.
“We’ve gone through 10 years of some of the most profound technological change. We’ve seen how much technology has been embedded, and what’s the conversation that we’re having at the end of the 10 years — we’re talking about skill shortages.
“I’m not saying that it hasn’t had those impacts along the way, but… you have opened up opportunities for businesses.”
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