McKinsey February 12, 2024
Advances in generative AI have accelerated Australia’s automation opportunity. If implemented well, these technologies could improve Australia’s productivity—and the quality of life of its people.
In a 2019 report, Australia’s automation opportunity: Reigniting productivity and inclusive income growth, McKinsey examined the possible impact of automation on the future of work. Australia’s economy was at the tail end of a three-decade boom and losing momentum fast—yet the automation wave was on the horizon, bringing the possibility of inclusive economic growth and an uplift in productivity. The report found that, to realize this promise, Australia would need to embrace rapid automation adoption and facilitate social inclusion in the process.
Half a decade later, a lot has changed—not least because of the profound...
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