New report indicates VET qualifications in marketing and communications, conveyancing and insurance broking may be most impacted
A new report by the Future Skills Organisation (FSO) and Mandala Partners proposes an approach to help identify the finance, technology and business Vocational Education and Training (VET) qualifications most likely to be impacted by generative artificial intelligence (AI).
Released today, the ‘Building an AI-Enabled Workforce: Priority Framework’ report suggests that qualifications in marketing and communications, conveyancing, and insurance broking are highly exposed to the impact of generative AI.
CEO of the Future Skills Organisation Patrick Kidd OBE OAM said, “As the Jobs and Skills Council for Australia’s finance, technology, and business sectors, we are keen to understand how the training system needs to respond to the impact of generative AI and when. This report helps to identify which areas we should look at first.”
The report draws on the FSO’s previous research that identified the generative AI exposure of occupations and VET qualifications across the finance, technology and business sectors, as well as the types of skills most likely to be impacted by generative AI.
“A recurring theme during our recent National Forum on skills in the finance, tech and business sectors was the need to recognise the impact of emerging technologies like generative AI in our education and skilling programmes. 1 in 5 Australians work in these sectors; it’s important we are responsive to these changes,” Mr Kidd said.
“This research helps to identify the highest priority areas for attention when we collaborate with training providers and industry to help ensure our VET qualifications reflect the needs of the economy.”
Leading economic research consulting firm Mandala Partners conducted the research, with Director Tom McMahon recounting the methodology.
“We expanded on our earlier research with the Future Skills Organisation, which assessed the exposure to generative AI in VET courses in finance, technology, and business. This report expands on that analysis by creating a prioritisation methodology that determines a qualification's relative economic impact. This approach can assist the FSO focus their efforts on the most important areas,” Mr McMahon said.
“Our industries are at the vanguard of innovation, and generative AI is already making a huge influence on the workplace. However, it is still early days, and we need to better grasp what this means for the skills required. There's a lot to ponder. This framework will help us identify the topics we should focus on initially. And this will assist drive the results that are likely to have the largest impact,” Mr Kidd said.
You can find a copy of the full report attached.
About us:
About the Future Skills Organisation
The Future Skills Organisation (FSO) is a Jobs and Skills Council funded by the Australian Government Department of Employment and Workplace Relations. The FSO’s role is to strengthen the skilling and training system for the finance, technology, and business sectors by finding innovative ways to address skills gaps and ensure there are enough people with the right skills for the future.
About Mandala Partners
Mandala Partners use economics, data, and strategy to provide analysis, insights and advice to governments, businesses, and organisations. The team of experienced consultants combines world-class economic modelling expertise with disruptive thinking to provide insights that give our clients a competitive advantage.
Contact details:
Anil Lambert
anil@hortonadvisory.com.au
0416 426 722