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Artificial intelligence (AI) could create up to 200,000 AI-related jobs in Australia by 2030, significantly boosting productivity and injecting billions of dollars into the economy, according to a new report from the Tech Council of Australia (TCA). The report, titled “Meeting the AI Skills Boom,” highlights the growing demand for workers to support the development and adoption of AI technologies. However, it also warns of a potential skills shortage without significant reforms.
Damian Kassabgi, CEO of TCA, noted that AI is transforming the way people work and has been identified as a leading tech trend. He observed substantial growth in Australia’s AI workforce in recent years, a trend expected to continue with the broader adoption of AI technologies. He emphasised that the growth in AI jobs will not be confined to the tech sector or traditional tech roles. Besides positions focused on developing, designing, and maintaining AI systems, there will be a need for individuals with skills in human resources, sales, and governance to scale AI systems and businesses effectively.
The report indicates that to reach 200,000 AI workers by 2030, the workforce needs to grow by 500% over the next seven years. Achieving this goal requires not only an increase in the number of workers but also adaptation to changing job requirements across both tech and non-tech occupations. The distinct skills and experiences needed to work directly on AI products and businesses could be addressed through a mix of entry-level training, upskilling existing workers, and mid-career training.
The existing strain on the tech workforce to meet current demand is significant. Increasing the number of AI development jobs could be achieved by providing alternative entry-level pathways, mid-career retraining opportunities, and upskilling in AI. Additionally, skilled migration could be leveraged, particularly for highly technical roles requiring experience.
Diversifying training pathways, including an increased uptake in vocational education and training (VET) or short-course training, could boost the supply of workers in cybersecurity, product development, and design roles.
The report also suggests that promoting awareness of AI jobs and skills needs, along with enhancing AI literacy across the workforce, could drive job growth to support the scaling of AI systems and products in various fields such as finance, human resources, sales, operations, and governance roles in legal, policy, and risk and compliance sectors.
Preparing Australia’s workforce for the opportunities presented by AI’s widespread adoption is crucial. Establishing pipelines of AI-ready workers to meet the significant demand for AI jobs is essential.
A comprehensive AI investment and capability plan for Australia is also necessary. This plan would provide a clear path for regulation and governance, digital infrastructure, research, and commercialisation. It is essential to capture the economic and productivity benefits of AI.
The economic benefits of growing the AI workforce and enabling greater AI adoption in Australia could be substantial. The report estimates that greater adoption of generative AI alone could contribute AU$115 billion to the economy, with 70% of this benefit stemming from productivity gains.
Australians are already using AI-powered tools to help with tasks, which saves time and allows for a focus on more important and creative work. However, there is still significant growth to come, and it is vital to ensure that there are enough AI-skilled workers to reap the economic and social benefits of the technology as it becomes more widespread.
Key points from the report include the potential for AI to create 200,000 jobs in Australia by 2030, necessitating a 500% growth from current AI workforce levels. Australia’s AI workforce has grown significantly, from approximately 800 workers in 2014 to more than 33,000 in 2023. This number is comparable to the number of school principals or architects in the Australian economy. Most of the AU$115 billion economic benefit from greater AI adoption will come from productivity gains. To meet the demand for AI jobs, a combination of entry-level training, upskilling of existing workers, and mid-career retraining will be required.
