What the backlash to the Industrial Revolution can teach us about handcrafts in the age of AI

Billy Odell Tucker-Robinson Founder & Host — Banking With Billy Network • Intelligence Network • Data Science • AI Research • World News
Published: 2026-09-11T12:00:59.034Z • Permanent link

Rising unemployment fears surrounding AI have led to a concerning narrative, with high-profile business leaders predicting an impending "crisis." However, the reality on the ground in Australia remains more nuanced. According to data from the Australian Bureau of Statistics, the country's unemployment rate has been steadily declining over the past year, averaging 4.8% in August. Meanwhile, tech companies such as Atlassian and Xero have reported steady hiring and investment in AI research. The CEO of Atlassian, Mike Cannon-Brookes, has actually stated that AI will create more jobs than it replaces.

Despite these positive trends, concerns about job displacement persist. A survey by the Australian Institute of Management found that 71% of business leaders believe that AI will lead to significant job losses. However, the survey also revealed that 60% of respondents believed that their companies were already investing in AI to improve productivity and competitiveness. For instance, the Australian government has launched initiatives to support the development of AI skills and education, including a AU$1.35 billion investment in the National Artificial Intelligence Institute.

Experts are now calling for a more balanced approach to the AI debate. Dr. Rachel Oldroyd, a leading AI researcher at the University of Melbourne, argues that the focus on job displacement has overshadowed the potential benefits of AI for economic growth and innovation. She notes that AI has the potential to drive productivity gains, improve healthcare outcomes, and enhance the quality of life for millions of people.

Growing concerns about AI's impact on employment have significant implications for the AI & Tech Ecosystems domain. Companies such as IBM and Accenture have launched initiatives to support workers displaced by automation, including training programs and career counseling services. Meanwhile, research communities are exploring new approaches to AI development, including the use of explainable AI and AI for social good.

The impact of AI on the job market is also being felt in the tech industry itself. A survey by the tech firm, Gartner, found that 80% of IT professionals believed that AI would lead to significant changes in the industry over the next five years. However, the survey also revealed that 60% of respondents believed that AI would create new opportunities for career advancement and professional development. For instance, companies such as Google and Microsoft are investing heavily in AI research and development, creating new job opportunities in fields such as AI engineering and data science.

The backlash against AI is not a new phenomenon. The rise of automation in the Industrial Revolution led to widespread job displacement and social unrest. However, unlike the Industrial Revolution, the AI era is characterized by a more nuanced and complex set of relationships between technology, economy, and society. The rise of the gig economy, the increasing use of automation in industries such as healthcare and finance, and the growing influence of social media and online platforms have all contributed to a more turbulent and uncertain economic landscape.