The Finance Sector Union (FSU) will speak on the ethical adoption and regulation of artificial intelligence (AI) in workplaces at the hearing for the Inquiry into the Digital Transformation of Workplaces taking place tomorrow, Friday 19 July.
FSU National Assistant Secretary Nicole McPherson said the FSU calls on the government to monitor the use of AI in large organisations and to adopt legislation to ensure the benefits of AI are shared with workers.
“Our current industrial relations laws do not consider that decisions about workers’ employment could be made by AI and this has consequences across all areas,” Ms McPherson said.
“The government must take an active role in monitoring the use of AI technologies in large organisations like the big four banks to ensure it is not used to exacerbate the gender pay gap or limit promotion opportunities for minority workers.
“Importantly, legislation must be adopted to ensure that the productivity and capacity gains from the introduction of AI is shared with workers through measures like pay increases or shorter working weeks.”
The FSU also expressed concerns with the use of AI in the surveillance and management of workers and for the potential of job losses due to AI in the finance industry and beyond.
Ms McPherson said the FSU is aware of the use of AI technologies by employers in the finance sector which is rapidly growing, including in the areas of compliance, lending, customer service, account management, claims management, staff management and investments.
“The uses of AI are expanding however we, and many of our members, are concerned about a lack of transparency from employers about how the technology is being used,” she said.
“In fact, many major employers in the finance sector are being sold on AI programs for the purposes of cost-cutting and eliminating vital jobs. We are calling for a moratorium on job losses due to AI for a period of three years to enable employers to identify at-risk roles and reskill impacted workers.
“The FSU believes the use of AI should be fairly regulated for its benefits to be shared with workers, and there must be a higher obligation on employers to educate workers and provide transparency about what systems are being used, and in which ways.”
FSU National Assistant Secretary Nicole McPherson will be available for doorstop interviews outside the inquiry tomorrow, Friday 19 July.
Media contact: Stephanie Lim – 0434 160 521
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