'I’m calling on support and partnership with the unions to create tech trades, digital apprenticeships, practical qualifications to get people ready for high-demand industries'
Australia is at the edge of the next industrial revolution when it comes to AI adoption to boost productivity, says one CEO.
“Like every revolution before it, the choices we make now will shape not just our economy, but the kind of country that we become,” Scott Farquhar, CEO of Atlassian, said.
“I know that when new technologies are created, small initial advantages can compound over time into unassailable leads. Small initial advantages, things are almost imperceptible at the start, can compound over time into unassailable leads.”
Speaking at the National Press Club in Canberra, Farquhar underscored that these small leads are what Australia needs to capitalise on to be at the forefront of housing – and helping to run – AI capability centres that could be used for the entire South Pacific.
Historical examples of innovation
He compared such forward thinking to the British over 200 years ago – utilising coal deposits to build railways.
“This led them to even more accessible coal deposits, and the virtuous cycle began that led them to, of course, invent the watt steam engine and then the Bessemer process for processing steel.”
“We need to build for the future, instead of the past. Let’s build AI capabilities, not wait for them,” he added.
This is underpinned by stats from the Tech Council of Australia that suggests AI in Australia could create up to $115 billion in economic value and 200,000 jobs by 2030.
Statistics are backed up by the Parliament of Australia, with a 1.8% - 4% increase in GDP in the US by 2032 if AI is adopted quickly.
Opportunities for greater upskilling and career potential with AI
Farquhar also outlined the opportunities AI can offer in both upskilling and career potential to millions across Australia – distorting the idea that AI will take jobs as opposed to make them.
“We talk a lot about the theoretical future job losses of AI, but we ignore the very real jobs that are available today.”
“I’m calling on support and partnership with the unions to create tech trades, digital apprenticeships, short, practical qualifications that could be completed in six or 12 months to get people ready for high-demand industries like data centre construction and battery installation,” he added.
These new technical jobs Farquhar described do not require all of the skills of a traditional apprenticeship or training scheme. By using “short, practical pathways,” more Australians can be trained up and ready for employment.
Practical ways to incorporate AI into business practices
As AI changes at a rapid pace, implementing the technology into already-established workflows and HR tech stacks can be confusing, but Farquhar offered three ways to get the most out of this emerging opportunity:
- Use AI yourself - to fully understand its impact.
- Re-design your internal processes - things like customer service, sales, admin.
- Re-imagine your core business offering - and understand how AI can boost that offering.
“Each tech shift gives you a choice: you can either disrupt others or be disrupted. The best businesses are systematically reinventing themselves,” he said.
Energy-powered knowledge work and innovation
This is the first time, Farquhar outlined, that energy is being used to power knowledge work as opposed to physical work.
“Australia should be exporting megawatts as megabytes, and in return getting paid megabucks… This is a multi‑billion dollar, multi‑decade opportunity,” he joked.
“When we harness energy in new ways, what was once hard becomes easy—and when that happens, nations can rise or fall based on how they respond.”
Another analogy Farquhar used to outline the importance of AI adoption was the work of JJ Bradfield in building the Harbor Bridge and championing Sydney’s electrification of trains.
“Back then, the government of the day took a bet and we're all better for it. [With] artificial intelligence…we hear many of these same arguments today. It's mysterious and dangerous, it requires new infrastructure, we will need different jobs.”
In addition, Farquhar called on federal and local governments to change legislation, such as Australia’s copyright law, to reduce “bottlenecking” of innovation.
“Let’s build skills, not accept shortages,” he concluded. “The scoreboard of the AI era is blank. The race is still on, and Australia has everything to play for.”
