Australia’s central bank has identified early signs that artificial intelligence is having a significant impact on young workers, particularly those aged 15 to 24. The bank’s findings indicate a notable decrease in job postings and employment opportunities for this demographic in sectors like software development and customer service, which are highly exposed to AI advancements.
Since the launch of ChatGPT, the central bank has observed a sharper decline in job prospects for younger workers compared to their older counterparts. However, economist Mike Major advises caution against drawing definitive conclusions, suggesting that other factors, such as shifts in the business cycle, may also be influencing these employment trends.
This development raises concerns about the future job market for young professionals as AI technology continues to evolve and automate tasks traditionally performed by humans. The central bank’s insights underscore the need for ongoing analysis of AI’s impact on employment across various sectors.
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