How AI Could Destroy Entire Industries
ABC News
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Details
- Date Published
- 29 Mar 2026
- Priority Score
- 2
- Australian
- Yes
- Created
- 29 Mar 2026, 10:00 pm
Description
Tech giants Amazon and Meta are slashing jobs as they pivot to artificial intelligence.
Summary
Rapid advancements in agentic AI models and autonomous workflows are driving a significant shift in the global workforce, with tech giants aggressively pivoting capital toward frontier AI capabilities. Research indicates that up to 90 percent of tasks in white-collar professional roles are now susceptible to replacement by AI, potentially leading to the total erosion of middle management by 2030. While these developments highlight the scaling speed of AI integration, the focus remains on economic displacement and corporate restructuring rather than systemic catastrophic safety risks. The analysis specifically tracks how Australian job markets and startups are adapting to these frontier tools, signaling a major structural upheaval in the domestic economy.
Body
Tech giants Amazon and Meta are slashing jobs as they pivot to artificial intelligence. As AI reshapes the workplace, some roles are evolving but others are disappearing entirely.CreditsAlysia Thomas-Sam, AuthorImage DetailsTech giants Amazon and Meta are slashing jobs as they pivot to artificial intelligence.(Reuters: Damien Eagers)Program:More from AMTranscriptMelissa Clarke: Tech giants Amazon and Meta are slashing jobs as they pivot to artificial intelligence. As AI reshapes the workplace, some roles are evolving, but others are disappearing entirely. 7.30's Alysia Thomas-Sam reports.Alysia Thomas-Sam: Shaon Diwaker runs a small Sydney startup and admits he has no human employees. Instead, the former Meta employee relies on a team of AI agents to run his company.Shaon Diwaker: I use Claude code to write code. I'm using ChatGPT for marketing. I'm using Gemini to create videos. I'm really using every single tool available because the truth is it's cheaper than hiring a human if I'm being frank.Alysia Thomas-Sam: And he's not alone. Major tech companies Atlassian, Amazon and Meta have been laying off thousands of staff to pour billions into AI technology.Shaon Diwaker: There is a certain amount of, oh, you know, we don't need as many humans as we used to, associated with these cuts, which is really sad.Alysia Thomas-Sam: Shaon Dikwaker says every company should be considering AI tools to automate operations, and if they're not, they risk falling behind.Shaon Diwaker: They will be replaced or overtaken by businesses that are augmenting humans with AI by the end of this year.Alysia Thomas-Sam: Earlier this month, major AI company Anthropic revealed which industries are most reliant on artificial intelligence. Professor Clinton Free from the University of Sydney mapped this data against Australian job listings.Clinton Free: The sort of categories of work which were heavily exposed were things like management, mathematics, what we would traditionally consider to be white collar professional type jobs, upwards of 90 per cent of the tasks in those jobs are amenable to being replaced or displaced by AI.Alysia Thomas-Sam: Professor Free says there are roles with low exposure to AI, such as carers and gardeners. But he says a major upheaval in the workforce is coming.Clinton Free: I think going forward, we're likely to continue to see delaying of middle management jobs and jobs in white collar professions continue to erode. And I think by sort of 2028, 2030, we'll start to see autonomous workflows and agentic models really go mainstream.Melissa Clarke: Professor Clinton Free from the University of Sydney, ending that report by Alysia Thomas-Sam. And you can see the full story tonight on 7.30pm or anytime on iview. Appears In National Cabinet to discuss solutions to oil crisisDuration: 20 minutes 5 seconds20m 7 itemsIn this episode1 of 7Is fuel rationing inevitable?Duration: 3 minutes 24 seconds3m 24s2 of 7National Cabinet to discuss fuel rationingDuration: 7 minutes 15 seconds7m 3 of 7Iran warns against ground operationsDuration: 2 minutes 56 seconds2m 56s4 of 7PlayingHow AI could destroy entire industriesDuration: 2 minutes 38 seconds2m 38s5 of 7Patients suffer as health companies diversifyDuration: 3 minutes 22 seconds3m 22s6 of 7Farmers and fishers appeal for fuel price reliefDuration: 2 minutes 51 seconds2m 51s7 of 7Holidays cancelled because of fuel crisisDuration: 2 minutes 58 seconds2m 58s