The FSU recently represented members at a hearing for the Federal Government’s Inquiry into the Digital Transformation of Workplaces, speaking out about the vital need for transparency and regulation around the use of artificial intelligence (AI) to ensure workers benefit from these technologies.
FSU National Assistant Secretary Nicole McPherson spoke at the hearing and said while there is a role for AI in our sector, it must be fair, transparent, and properly regulated.
“We’re calling on legislative reform to ensure the productivity and capacity gains from AI are shared with workers through pay increases and shorter working weeks,” she said.
“The FSU believes the use of AI should be fairly regulated 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.”
We also called for a three-year moratorium on job losses due to AI to enable employers to identify at-risk roles and reskill impacted workers.
“There is currently no transparency which means it is impossible for workers to know where and how AI is being used,” Nicole explained to the hearing.
“Employers are not disclosing this to their workers, customers or members of our community.”
FSU members have reported that AI is currently being used in the finance sector for shift rostering, worker surveillance, communication between employers and workers, productivity management, risk assessment, fraud detection, lending processes, routine customer enquiries and claims management.
“There is an essential role for skilled ethical and experience finance workers in providing financial services to our community, particularly in areas where the Royal Commission identified that misconduct was more likely to occur.”
As an example, Nicole highlighted the vital role played by members working in bank branches. These roles are essential to our community in making financial services accessible to everyone and are some of the roles that need to be the most fiercely protected.
“When someone needs assistance their first port of call is often a bank branch. This is particularly true for elderly people and those from minority backgrounds who have limited access to technology or lower literacy levels,” she said.
“The entry level workers are the face of the banks, they’re the face of our sector, and they’re the people who can provide assistance. We think it would create an enormous risk if these roles were replaced by AI. It would also remove an important career pathway to other bank roles.
“AI presents an enormous opportunity to the finance sector in Australia and to our members and with proper regulation and oversight we can ensure it helps to build a more ethical and productive sector that respects workers and supports our community.”
Read the FSU’s submission for the Inquiry into the Digital Transformation of Workplaces.
Members are encouraged to tell us about your experiences of AI at work by completing our quick survey.
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