26 March 2026
‘We could lose sight of what we’re trying to do here’
The human impact of AI was front and centre at a recent banking…
There has been a dramatic and dangerous escalation in the fight to protect Australian jobs from being wiped out by AI and offshoring, with Bendigo Bank announcing a partnership with two global tech companies that could see hundreds of jobs offshored or replaced.
These cuts strike at the heart of why the FSU is pursuing legislative changes to regulate how employers approach the AI transition before it’s too late.
The Federal Government has repeatedly told the FSU that they will take action if and when AI becomes an issue for Australian jobs. Indeed, the government’s own AI plan states that they are “monitoring the development and deployment of AI and will respond to challenges as they arise”.
FSU National Secretary Julia Angrisano said it’s clear that a ‘light touch’ approach to AI regulation, which has so far been the government’s strategy, isn’t going to cut it.
“We are now seeing in real time the disastrous consequences of a complete lack of AI regulation,” Julia said.
“Australian workers have long understood that banks and big business were never going to act ethically.
“Unfortunately, the Federal Government has been slow to enact meaningful reform, but it’s not too late for them to step up and protect local jobs.”
There’s no doubt that the AI transformation has well and truly arrived. If managed properly, AI presents significant opportunities to improve the lives of everyday Australian workers. But if governments fail to step in and legislate the necessary protections we need, AI has the potential to cause significant harm – as these Bendigo Bank cuts demonstrate.
The FSU’s latest AI report – AI in the finance sector: A worker perspective – provides crucial insights into how businesses are already failing to bring workers along the AI journey by building trust and confidence.
70% of FSU members who responded to our 2025 survey said they felt that AI threatens their job security, up from 60% in 2024.
And nearly 54% said they felt ‘negative’ or ‘very negative’ about the increasing use of AI in the finance sector.
For a workforce of half a million Australians, these figures should concern everyone – including governments.
The Federal Government’s AI plan states, “We cannot seize the innovation and economic opportunities of AI if people do not trust it.”
We cannot agree more.
That’s why the FSU is leading the way to ensure AI is used ethically across the finance sector.
We’re placing the voice of finance workers at the centre of the conversation to secure a fair deal for workers.
Specifically, our roadmap calls for AI to be used in a way that:
These principles are not heavy handed, nor will they stifle productivity or the potential benefits that AI may bring.
They are common-sense solutions that not only ensure everyday workers don’t get left behind, but that we all share in the benefits.
The Federal Government may be making all the right noises on paper – but now it’s time our politicians stepped up with a real plan to put Australian jobs first.
You can read more about our AI campaign and get involved here.
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