AI is in widespread use across Australia’s financial sector with almost no oversight, according to its workers, who warn the technology could kill jobs and turbocharge the unethical behaviour uncovered during the banking royal commission.
The Finance Sector Union (FSU) on Friday called for a three-year moratorium on “job losses from AI” and law reform to ensure productivity gains from the technology flow to workers through pay rises and shorter work weeks.
But as the union pushed Parliament to introduce more oversight and binding rules for AI, employer groups railed against any sort of prescriptive or technology specific regulation, claiming it will harm productivity and safety.
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