A new report, Australia’s Automation Opportunity: Reigniting Productivity and Inclusive Income Growth, highlighted the opportunities that come with automation, especially with the need for 600,000 university graduates by 2030, and what universities need to do to prepare for it.
Released in March, the report reveals that the widespread adoption of automation across the economy is expected to bring about the disruption and elimination of many jobs, particularly in the business and manufacturing sectors. These changes will, however, contribute $4 trillion to the Australian economy over the next 15 years.
The report further says, “If we can embrace automation in the national interest, businesses can develop new services and products, boost productivity and create new and better-paying jobs, keeping employment levels high and creating the national wealth that can promote social inclusion.” About 46% of current work functions and roles could be automated by 2030, which could provide employees with AU$4,000 to AU$15,000 a year in additional income.
According to researchers Charlie Taylor, Jules Carrigan, Hassan Noura, Seckin Ungur, Jasper van Halder and Gurneet Singh Dandona, “People who can acquire new skills will flourish in their existing roles and in roles yet to be defined. There will be more opportunities for women with children, older workers and people with a disability as automation technologies take over the more routine, predictable and physical activities.”
600,000 shortage of university graduates
The researchers further report that Australia could face a shortage of 600,000 university graduates by 2030 in health, education and information technology. The country also needs highly-trained postgraduate engineers who know how to develop and work with new technologies.
Students who are currently in post-secondary universities will account for around one-third of Australia’s workforce by 2030, the report points out. Current students studying Information Technology, such as Southern Cross University’s Bachelor of Information Technology, are in a good position to benefit from the opportunities that automation will bring. They can focus on developing their technical competencies with the knowledge that employment opportunities are strong in their chosen fields.
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