Artificial intelligence wants your middle-class job
Money Magazine Australia|March 2024
Almost half the tasks performed by Australian workers could be impacted by the approaching technological revolution.
Artificial intelligence wants your middle-class job

Will 2024 be the year artificial intelligence (AI) begins stealing the jobs of middle-class Australians? If two major reports are right, it will be. To prepare for it, Australia’s service sector workers had better start sharpening their skill sets and get ready for a job market that – for them – may quickly start transitioning into something very different from what it is now.

We’ve all heard about AI, but what exactly is it? In short, it’s the ability of a computer to perform tasks that would previously require human intelligence. That is, it’s not just about using computers to do tasks that a human would have done – that’s just automation – but performing tasks associated with traits of human intelligence, such as learning, problem-solving, writing, explaining, perceiving and perhaps even showing some level of creativity.

ChatGPT is probably the most widely known AI app, but all it really does is use patterns in language that it has been ‘trained’ in, so that when users ask it questions, it responds using the language associated with the question it was asked. This is why apps like ChatGPT are so effective in answering general knowledge questions, developing business proposals, essays, helping you write CVs and computer programming code.

High-risk countries

As amazing as this sounds, it’s only the start. This is why speculation is growing around how these computer applications will impact the jobs market and, by association, the education system. After all, why would you pay someone a six-figure salary to produce content that for the most part can now be generated from an AI app? And why would you need as many university-qualified people trained in these same skills?

Bu hikaye Money Magazine Australia dergisinin March 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Money Magazine Australia dergisinin March 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MONEY MAGAZINE AUSTRALIA DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
An outrageous, beautiful monopoly
Money Magazine Australia

An outrageous, beautiful monopoly

Telstra's mobile business is a cash machine with few competitors, giving it the highest returns in the world.

time-read
4 dak  |
July 2024
Drop the anchor to judge value
Money Magazine Australia

Drop the anchor to judge value

Buying and selling decisions should be based on where a stock price is going, not where it has been.

time-read
3 dak  |
July 2024
Powering the AI boom
Money Magazine Australia

Powering the AI boom

Beyond the software and chipmakers, where will the energy come from?

time-read
3 dak  |
July 2024
Get into life
Money Magazine Australia

Get into life

Tucked inside super are products that can protect you from life's inevitable uncertainties.

time-read
5 dak  |
July 2024
Paths to home ownership
Money Magazine Australia

Paths to home ownership

Taking the road less travelled can sometimes deliver unexpected benefits.

time-read
5 dak  |
July 2024
Sold! Quick ways to add value
Money Magazine Australia

Sold! Quick ways to add value

Small, strategic changes can have a big impact on the look and feel of your home. And get you a better price on auction day.

time-read
5 dak  |
July 2024
Money lessons the kids need to know
Money Magazine Australia

Money lessons the kids need to know

Your children can learn a lot from your past money mishaps. Here are eight financial conversations I have had with mine.

time-read
4 dak  |
July 2024
Property-investing rules: are they likely to change?
Money Magazine Australia

Property-investing rules: are they likely to change?

The pressure for the government to curb the tax benefits of tax concessions, such as negative gearing and the capital gains tax discount, is unrelenting. Most recently, independent senators David Pocock and Jacqui Lambie proposed five options for paring back investment property tax concessions, with savings to the Federal budget of up to $60 billion over the next decade.

time-read
3 dak  |
July 2024
What's love got to do with it?
Money Magazine Australia

What's love got to do with it?

A rollercoaster of emotions could be driving poor crypto behaviour.

time-read
3 dak  |
July 2024
Are we ready to be cash-free?
Money Magazine Australia

Are we ready to be cash-free?

Saying goodbye to our piggy banks too soon could leave small businesses in the dark when problems arise.

time-read
2 dak  |
July 2024