Experts in Australia have sent the warning bells ringing to create awareness about the loss of jobs that are anticipated to arise from the use of artificial intelligence. This trend is expected to substantially increase the need for income support and skill retraining efforts. Further, these experts are also pushing for the requirement of legislation that measures wellbeing and happiness as artificial intelligence starts to play a more dominant role.
The new report was developed by the Australian Council of Learned Academies (ACOLA), which states that the future of Australia will be determined by decisions coming out of artificial intelligence systems in the near future. In addition the report also quoted an estimate from Google Australia which estimated that approximately 3.5 million workers in Australia are at a high risk of being replaced by automated systems by the end of 2030.
Professor Toby Walsh, who is a part of the council stated: “With careful planning, AI offers great opportunities for Australia, provided we ensure that the use of the technology does not compromise our human values.”
Life and Happiness Indexes Could Bring Transparency to Economic Growth
The Report by the Australian Council of Learned Academies states: “There may be a need to rethink the context of work itself. People will need to be meaningfully engaged in activities and roles independently of work. Income support could be considered for those displaced if they cannot be appropriately re-skilled.”
According to the report measures such as rate of economic growth and inequality of income can mask issues, creating a requirement for indicators such as the triple bottom line, OECD Better Life Index or the Australian Digital Inclusion Index that will gain greater importance in the near future, to measure the wellbeing of the country’s citizens.
According to the panel at ACOLA, skilled AI developers are recommended to be target from various regions around the world, with the aim of attracting them to Australia, to strengthen the local industry. In addition, the report also recommended the development of a national strategy for artificial intelligence, including an adaptive regulatory system, a skilled workforce, and relevant digital infrastructure.