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Generative artificial intelligence (GenAI) is being embraced throughout the Australian workforce more now than ever.
The exponential growth of AI has certainly been something to marvel at. Workplaces throughout Australia are adopting AI practices and embracing them into job descriptions at a higher rate than ever before.
Only a few years prior, very few Australians had even heard of GenAI, let alone tried to adopt it into their role or hire people based on their expertise in its usage or development. Indeed has done a deep dive into this increase of GenAI and highlighted some interesting findings.
Job posting is a good example. Although GenAI remains a relatively small part of the market – just 0.08 per cent of Australian job postings mentioned GenAI in their job descriptions as of the end of March 2024 – they are increasing rapidly. The share is up by around 50 per cent over the past three months.
This increase in GenAI throughout Australian workplaces is a trailblazing feat nationally, yet on the global scale, this embracement is moving much slower than our international peers. The share of job postings mentioning GenAI is significantly higher in Singapore (0.53 per cent of postings) and other large, wealthy economies, including the US (0.12 per cent) and the UK (0.11 per cent).
ChatGPT would be the most relevant GenAI tool that is used throughout the workplace, as it can perform at least 80 per cent of the skills required in those jobs at a “good” or “excellent” level. According to Indeed, one in five (21 per cent) Australian job postings face a “high exposure” to GenAI.
A further 56 per cent of job postings had a moderate level. Australia’s results are similar to those observed in the US, particularly for high exposure. With moderate exposure somewhat higher in Australia, its growth is somewhat beginning to catch up with the global powerhouses.
Workers in highly exposed jobs often receive a greater benefit from these tools as it can take those monotonous and repetitive tasks away, opening up more opportunities to focus on important tasks that require the utmost productivity.
Research from the Harvard Business School found that those who used ChatGPT completed tasks 25 per cent faster, and their work quality was assessed to be 40 per cent higher than the control group of colleagues who were not AI-assisted.
Since productivity growth tends to drive wage growth, this could create a divide in wage growth between high- and low-exposure occupations, with those who have those GenAI skills eventually enjoying stronger wage gains due to their productivity taking an uptick.
Having that training and expertise in the AI space could be the make or break between seeing wage increase. That’s how intertwined GenAI tools are becoming with enhanced productivity. If Aussie workers aren’t getting on the bus now, they may be left behind for the times to come.
Kace O'Neill
Kace O'Neill is a Graduate Journalist for HR Leader. Kace studied Media Communications and Maori studies at the University of Otago, he has a passion for sports and storytelling.
