Automation in Australia can boost productivity to the level required to rekindle the country’s slowing economic growth, potentially adding over a trillion dollars to the economy, according to McKinsey. But the technology could also put to 6.5 million full time jobs at risk, increase unemployment levels and further widen inequality.
The difference between prosperity or wide scale disruption will be how the “inevitable” automation is handled, McKinseys says. It is calling for immediate action from Australian stakeholders including competition reform as part of a national automation strategy.
Generally the management firm is bullish on the local automation opportunity, in its new […]
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