Australian job cuts show no clear evidence of an AI-driven jobs crisis

The author argues that, despite prominent job-cut announcements at several Australian companies, there is little evidence that AI has triggered a broad jobs crisis. He says AI’s economic effects so far look more like a surge in share prices and infrastructure spending than a measurable rise in productivity.

NAB says AI did not drive its cuts, and the author sees Qantas’s plan to move 850 jobs to India as offshoring rather than automation. Canva may face a stronger challenge because AI tools can quickly produce basic designs, while Atlassian’s complex workplace software may be harder to replace. The article also notes that cheaper open-weight models could limit the profits of leading AI firms.