Futureproofing careers in the AI revolution

The Australian workforce should prepare for a major shake-up according to new research from Pearson, commissioned by ServiceNow.

As AI moves into the mainstream, 1.3 million full-time jobs — or 9.9% of the country’s working population — are expected be automated over the next four years. The technology will also deliver notable productivity gains, by significantly ‘augmenting’ — or increasing the efficiency of roles to boost productivity — 6.6% of jobs (885.2K); while also adding the equivalent of 2.8% more full-time employees (369.2K people) who will be needed to implement new technologies.

To understand AI’s effect on jobs and tasks, researchers modelled the impact of 16 technologies on more than 6000 roles in Australia and five other markets. Using a proprietary data model (“occupations ontology”), each role was divided into a subset of 26,000 tasks; machine learning models then predicted the effect on each task from the 16 technologies that drive automation and augmentation. The models were validated by universities including Macquarie University and are rated as 80–99% accurate.

To keep its technology impact projections current, Pearson identifies current and emerging trends by analysing 10 million job ads per month. Its natural language processing models identify which of 8000 skills are present in an advert, alongside occupation, to generate insights into how the jobs and skills landscape is evolving.

The research reveals that roles with high levels of repetitive and technical tasks will be most impacted by AI, with bank workers (45.8% of roles set to be automated), bookkeepers (38.2%), accounts clerks (37.5%), checkout operators (36.9%) and finance brokers (36.8%) the most likely to be affected by 2027.

“The automation revolution has begun. In the next four years, we believe AI will become an essential tool for people across industries,” said VP and Managing Director of ServiceNow Australia and New Zealand Eric Swift.

“Unlocking the huge economic and productivity gains will require businesses, governments and individuals understanding what shifts will occur, and prioritising skills and using the right technology platforms to take advantage. This will help reverse declining Australian productivity, and it will also address skills shortages by freeing-up talent to work in the most in-demand areas.”

Productivity boost

Even jobs that aren’t fully automated will likely be transformed by the integration of AI into work, as technology takes on more tasks. In total, the research predicts Australian organisations are set for $91.8 billion in productivity gains and savings, highlighting the need for upskilling and reskilling for the nation to benefit.

“Throughout history, we have used machines to eliminate repetitive work and by embracing AI, business leaders and governments have a huge opportunity to make work better. This research shows how we can transform our workforce and economy at scale to help ensure people are doing work that people do best,” Swift said.

The National Skills Commission 2022 annual update showed 286 Australian occupations are currently experiencing national shortages. At the same time, the latest data from the Productivity Commission revealed productivity growth has fallen to a 60-year low.

Doing more with less: How machine mates will assist our day-to-day work

Many jobs will be heavily ‘augmented’ by AI or assisted to increase productivity. The most augmentable jobs in four years’ time will see more than a quarter of their typical work tasks taken on by “machine-mates”. These jobs include: migration agent (31.8% of tasks done by AI); network administrator (29.1%); systems administrator (28.1%); hardware technician (28.0%); and telecommunications engineering professionals (27.8%).

“Leaders embracing AI must start planning for updated job descriptions and team structures today, as new jobs emerge. The priority is identifying the biggest shifts and investing in tailored training pathways to help people reskill. For employees, it’s essential they learn how to use AI tools to make themselves more competitive. This will future-proof careers, increase wellbeing and make teams more productive,” Swift said.

Switching things up: new career paths and skills to succeed

By analysing all the tasks required for over 6000 different jobs, the research also details what alternative career paths are available to individuals who may be impacted, how they can transition into new roles, and what training they will require.

Technology jobs will see some of the biggest increases, with an additional 370,000 new technology roles required to enable Australia’s adoption and deployment of technology to meet the projected productivity and economic benefits.

ServiceNow has committed to training one million people globally by 2024 as part of its RiseUp initiative to fuel an economy of in-demand, job-ready talent. The next tech training bootcamp will launch on 18 September 2023 and interested parties can apply here.

Image credit: iStock.com/SIphotography