Financial and Insurance Services

Abstract

In this chapter, the authors focus on the impact of artificial intelligence (AI) and associated technological changes on work and jobs in Australia’s Financial and Insurance Services industry sector. Extensive commentary on the cumulative effects of AI, a term that incorporates machine learning, big data, blockchain, chatbots and financial technology (fintech) and other technological advances, are distilled for consideration. The intention in this chapter is to attempt to predict vocational areas in this specific industry sector that may diminish, noting that it is a challenging task amidst wide-ranging views. The commentary primarily focuses on disruptive technology in a relatively broad context to complement knowledge contributed within other chapters that focus on different industry sectors.