AI Job Creation in Construction and Retail Sectors Likely, According to EY Modelling
Australian Financial Review
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Details
- Date Published
- 6 Aug 2026
- Priority Score
- 1
- Australian
- Yes
- Created
- 6 Aug 2026, 04:01 am
Description
New modelling from EY counters fears that AI will cause widespread job losses, finding the technology will boost productivity and living standards.
Summary
This modelling by EY suggests that AI will drive significant economic growth in Australia, potentially adding up to $116 billion to the GDP over the next decade. The analysis focuses on productivity gains and infrastructure investment in the construction and retail sectors, challenging the narrative of widespread technological unemployment. While the report touches on economic resilience, it lacks a detailed examination of the catastrophic risks or safety implications associated with frontier AI deployment. Consequently, its relevance is primarily centered on economic policy and labor market transitions rather than catastrophic risk reduction or safety governance.
Body
PolicyEconomyAIPrint articleMichael ReadDeputy economics editorAug 6, 2026 – 12.01amAustralia’s construction and retail sectors stand to be the biggest winners over the coming decade from the artificial intelligence boom, according to new modelling from EY that counters fears the technology will cause widespread job losses.EY found AI use could boost the Australian economy by $95 billion to $116 billion over the next decade – equivalent to 2.6 per cent to 3.2 per cent of GDP – as widespread adoption led to an increase in productivity and triggered extra investment in areas like data centres and supporting infrastructure.Loading...SaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleRead MoreAIJobsEYConstructionFetching latest articles