Finance workers have launched a new campaign as they step up calls for greater transparency and worker involvement in the use of artificial intelligence in their workplaces. The Finance Sector Union is encouraging all workers to complete a survey to add their voice and experience to the campaign.
The Finance Sector Union has achieved significant industrial wins recently through specific AI clauses at Cbus Super and Insignia and are currently bargaining for dedicated clauses at a range of workplace as they seek to make these clauses universal.
FSU National Assistant Secretary Nicole McPherson said:
“Our members are proud to be leading the way in ensuring that AI is adopted ethically across the finance sector. While it is problematic that AI is becoming more integrated into our industry without worker involvement, we are organising to ensure that workers share in the benefits while we address the potential risks.
“Our campaign is based on the three pillars of transparency, voice and fairness. Transparency, because workers demand that employers are open about how AI is used, ensuring workers can understand and challenge AI-driven decisions. Voice because industrial democracy is a key union value and workplaces that involve workers in decisions do better. And fairness because we believe that AI should improve the quality of our work and lives, not just boost corporate profits.
“Finance sector employers must share AI’s benefits with workers. The productivity gains from AI should lead to better pay or reduced working hours for workers, such as a four-day work week.
“We reject the argument that AI should lead to lower numbers of workers, and in fact are calling for a pause on job losses due to AI. It is essential that workers are supported with retraining and transition into new roles, including the creation of roles in specialised areas of AI usage.
The union is aware AI is already being used throughout the sector in areas as diverse as compliance (helping with risk assessment and fraud detection) lending (used for credit scoring, loan assessments, and customer interactions), customer service, claims and staff management.
“Workers are not just open to technological change, they are looking at the opportunities it offers to reduce the boring and mundane parts of their job. What they won’t accept is all of the benefits accruing to employers, and all the gains going to shareholders. That’s why we need to see fair laws governing AI, clauses in enterprise agreements controlling the use of AI, and AI dividends like pay rises and shorter working weeks.”
The survey can be accessed at the following link https://fsu.org.au/AI-Survey
Media contact: David Imber – 0413 274 204
