AI-fuels fourfold productivity gains with job growth bucking expectations: PwC’s 2025 Global AI Jobs Barometer

• Industries most exposed to AI saw three-times higher growth in revenue per employee (27%) compared to those least exposed (9%).

• Workers see rising wages: Globally, AI-skilled workers experience average 56% wage premium in 2024, double the 25% in the previous year. 

• Demand for jobs in AI-exposed roles is still growing, but at a rate four times lower than in less exposed industries.

AUSTRALIA – The industries most exposed to AI experienced triple the amount of growth in revenue per employee compared to those less exposed, while Australian workers with artificial intelligence skills are among those able to command higher wage premiums, according to PwC's latest Global AI Jobs Barometer.

The report, based on analysis of close to one billion job ads, finds that Generative AI has supercharged productivity growth in AI-exposed industries, such as financial services and software, nearly quadrupling from 7% in 2018-2022 to 27% between 2018-2024. In addition, these businesses are seeing three times higher average growth in revenue per employee, compared to less exposed industries, such as hospitality.

“What we’re seeing is that all forms of AI are becoming engrained in roles making them part and parcel of day-to-day work life for an increasing number of Australians. The data shows that those who are mastering, and driving new value from this technology can command higher wage premiums, in some cases, upwards of 56%,” said PwC Australia’s Artificial Intelligence and Global AI Factory Leader, Tom Pagram.

“Rather than AI resulting in less jobs, we’re observing the contrary - job opportunities in the most AI- exposed industries were up 10%. Demand for workers with AI skills remains high as businesses continue to look for ways to integrate AI-powered solutions to drive revenue growth, differentiate and boost productivity.”

AI is driving jobs growth in virtually every AI-exposed occupation – even for roles with high automation potential

Job growth is accelerating across nearly all AI-exposed occupations – including those with a high potential for automation.

Within these AI-exposed roles, jobs can be broadly divided into two categories: automatable (where AI can independently perform some tasks) and augmentable (where AI enhances human productivity). Over the past five years, augmentable jobs have grown by 47% across all industries, while automatable jobs have also seen robust growth, increasing by 45% on average.

“This data shows that the Australian market increasingly values AI capabilities that enable both augmentation and automation,” said Mr Pagram.

“While automation might suggest job displacement, what we’re seeing instead is job transformation – roles evolve as AI takes over routine tasks, allowing people to focus on higher-value work. As a result, even automatable roles are still expanding, not shrinking.”

However, Mr Pagram warns that this trend will only continue if we actively reskill workers and help them shift into higher-value roles:

“Without an active focus on workforce upskilling, we risk a growing divide between those whose skills are enhanced by AI and those whose jobs are hollowed out by it. The gains we’re seeing today - more jobs, rising demand for AI capability - could easily stall or even reverse if we don’t bring people along.”

The Financial Services and Insurance sector is leading on AI jobs growth in Australia

In 2021, Australia saw a rapid and significant surge in the demand for AI skills in the overall jobs market, nearly doubling from 12,000 postings requiring such skills in 2020 to reach 23,000 a year later, this number has remained steady since.

In 2024, the Financial and Insurance sector maintained its lead over other industries with an 11.8% increase in AI skills job posting, ahead of Information and Communication’s where jobs requiring AI skills increased by 6.9% in Australia.  

“In the past 12 months, we’ve seen more and more evidence emerge of real productivity outcomes from business adoption of AI. And we’re continuing to see more proof points arise across all industries. Australian businesses must act decisively and deliberately; leaders need to think beyond efficiency and use AI as a growth engine by embedding it into strategy.”

The AI education challenge 

Jobs exposed to AI augmentation are seeing degree requirements drop from 71% of postings in 2019 to 67% in 2024. Jobs exposed to automation saw a similar rate of decline, from 80% to 74%. 

However, the fact that most augmented and automated jobs still list degree requirements underscores the continued importance of formal education in the job market. 

“Tertiary education institutions face a difficult challenge in keeping up with ever-faster cycles of technological advancement,” Mr Pagram said. 

“In a space that’s moving as quickly as AI, anything you learned even six months ago could become quickly irrelevant. That’s a huge challenge for educational institutions but could also be a great opportunity for them to partner with the technology sector to develop contemporary skills and the ‘life-long-learning’ philosophy we require in an AI-enabled workforce.”