Aussie finance sector's big AI move

Full Article
Aussie finance sector's big AI move

A new enterprise agreement in Australia mandates that the finance sector consults staff on the implications of generative AI, such as ChatGPT. This agreement, covering around 700 employees, is hailed as a 'gold standard' for worker protections in the face of AI advancements. It includes provisions for additional consultation time if roles are significantly affected by AI technologies.

The agreement also enhances conditions for female workers and new parents, introducing new leave policies alongside a substantial pay increase. Cbus Super's chief people officer emphasized the commitment to providing industry-leading conditions through this agreement. This initiative reflects a proactive approach to addressing worker concerns about AI's impact on employment.

• New agreement mandates consultation on AI's impact on jobs.

• Cbus Super introduces industry-first protections for workers affected by AI.

Key AI Terms Mentioned in this Article

Generative AI

The agreement specifically addresses the implications of generative AI models like ChatGPT in the workplace.

Consultation

The agreement requires employers to consult with staff about AI's impact on their roles.

Companies Mentioned in this Article

Cbus Super

Cbus Super is relevant for its role in negotiating the new enterprise agreement that includes AI protections for its employees.

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