Danielle Wood

There's, you know, a lot of estimates that are a lot more bullish than that.

And particularly if you think that AI might shift the rate of innovation itself, like if it improves the rate with which we discover, you know, clean energy technologies or new processes for manufacturing, et cetera, then you could have even a level shift again.

So there's certainly a lot of productivity upside, Alan.

Yeah, it's a really important question.

And again, I think we have to be modest.

I think the best work done on this for Australia was by Jobs and Skills Australia, which they replicated exercises which had been done elsewhere, essentially broke every job into a set of tasks and looked at, you know, what share of tasks

feasibly could be done or replaced with AI.

They found a reasonably small share of jobs, about 4% of jobs, can either be sort of fully or mostly automated.

So those are the jobs that you'd expect to be most at risk.

A much bigger share of jobs, 30 plus, which are subject to augmentation.

Some of the tasks can be done by AI, but you'd absolutely need a kind of human in the equation.

So my reading of that study is, yes, there will be some jobs lost and absolutely we need to think about how to transition.

It's not the mainstream story.

But, you know, I certainly think we also have to be aware that there could be tail risks of bigger labour market effects than what we're anticipating now.

And, you know, government would have to certainly respond if we ended up in one of those tails of the distribution.

Yeah, indeed, indeed.

But I mean, I think the fundamental thing that they're picking up on, though, is there, you know, so many jobs do have a kind of a human element that is valuable and will remain valuable.

You know, a lot of work processes and procedures do require that kind of human side element.

And then at the customer end, there can be just demand for that human touch as well.

I heard a really nice example on a podcast the other day of the mechanical piano, you know, been around for 50 or so years, but still people kept, you know, hiring people in hotel lobbies to play because people like that human element.