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News.com.au
an hour ago
- News.com.au
Local markets to see a ‘constructive start'
CommSec's Tom Piotrowski says the futures are pointing to 'a little of three-quarters of a per cent' when the market opens on Tuesday morning. 'It is going to be quite a constructive start for the local session this morning, 'Mr Piotrowski told Sky News Australia. 'The futures are pointing to an improvement of a little of three-quarters of a per cent.'
ABC News
an hour ago
- ABC News
Greens fuming over Senator's defection
Isabella Higgins: WA Senator Dorinda Cox has quit the Greens and joined Labor in a shock defection. She says it's about getting results and not rebellion, but her exit has left the Greens blindsided and fuming. Political reporter Olivia Caisley joins me from Parliament House. Olivia, why did she walk away from the Greens? Olivia Caisley: Well, standing alongside the Prime Minister in Perth yesterday, Senator Dorinda Cox says that her values align more closely with Labor and that she believes she'll be able to deliver better outcomes and results for the people of WA. She was a member of Labor briefly in her youth before she did join the Greens. Her switch though comes after months of internal tensions within her former party, so she failed in her bid to become deputy leader following the party's poor showing at the election, and there were also growing doubts that she'd secure a winnable spot on the next Senate ticket. The Greens say they were blindsided by this, that Senator Cox only called the Greens leader Larissa Waters about an hour before announcing her shocked defection, and there have also been allegations of bullying or a toxic workplace culture in her office, which emerged during the last term of Parliament. Anthony Albanese was asked about this yesterday and he says that he's confident that those issues have been dealt with. Here's, Senator Cox, yesterday announcing her defection from the Greens. Dorinda Cox: Being in the government and alongside the wonderful team that the Prime Minister has, you are able to make change. You are able to do the things that raise up and represent the voice of Western Australia and Canberra, and that's what they elect me to do, so I will continue to do that. Isabella Higgins: And Olivia, what does this mean for the Senate and for both of those parties? Olivia Caisley: Well, when it comes to the composition of the Senate, it's not a major shift. The Greens will still ultimately hold the balance of power. So this defection takes Labor's senators in the upper house to 29. The Greens, meanwhile, will drop to 10. But Labor will still need to rely on the Greens for votes in order to pass legislation. Symbolically, though, this is a major blow to the Greens. So at the election, they lost three of their four lower house seats and also their former leader, Adam Bandt, who was unable to retain his seat of Melbourne. And now they've got a high-profile senator defecting without warning. There is a question about how Senator Cox will square some of her policy positions with Labor's party platform. So for example, just last week, she criticised the Albanese government for extending WA's North West gas shelf, a move that environmentalists have also slammed. So how she reconciles those views while inside the Labor tent remains to be seen. Isabella Higgins: Olivia Caisley reporting there.
News.com.au
an hour ago
- News.com.au
$400,000 salary job proves the AI revolution is well and truly underway
A new artificial intelligence-focused job has caught the eye of one of Australia's most successful entrepreneurs, who believes it is the 'perfect example' of how AI is actually creating new opportunities for those willing to adapt. Simon Beard, founder of streetwear juggernaut Culture Kings – a business he sold in 2021 for a staggering $600 million – has highlighted a new job being advertised by Meta. The job is for a Content Engineer in California and comes with a salary range of $189,000 (A$293,000) to $258,000 (A$400,000). According to the ad, the role has a focus on generative AI, with the team supporting 'products through quality control, prompt engineering, fine tuning and creative execution'. According to Mr Beard, this is an example of an AI-related job that anyone can teach themselves how to do. He said being able to come up with an idea and structure for an AI prompt that actually produces the content they want and one that services a purpose is an 'incredibly valuable' skill. 'You don't need a course. You don't need someone to hold your hand. All the tools are there. Just like you taught yourself how to use Instagram, you just have to play with it and figure it out,' he said in a recent TikTok video. 'AI is going to create so many jobs for people that are willing to go put in the work and learn and teach themselves.' Mr Beard pointed out that jobs such as this one being offered by Meta 'didn't even exist three years ago'. 'Meta's new role of content engineer isn't about complicated coding or skill sets – it's about understanding how to prompt AI tools to generate content that connects, converts, and cuts through the noise,' he said. Mr Beard isn't alone in his assessment that AI will ultimately introduce a slew of new jobs to the market. However, this doesn't mean that fears around job losses as a result of the technology are unfounded. In January, a World Economic Forum (WEF) survey found that 41 per cent of employers intend to reduce their workforce because of AI automation by 2030. 'Advances in AI and renewable energy are reshaping the (labour) market – driving an increase in demand for many technology or specialist roles while driving a decline for others, such as graphic designers,' the WEF said in a statement at the time. 'The presence of both graphic designers and legal secretaries just outside the top 10 fastest-declining job roles, a first-time prediction not seen in previous editions of the Future of Jobs Report, may illustrate GenAI's increasing capacity to perform knowledge work.' At the same time, the report also found that close to 70 per cent of companies plan to hire new workers with skills to design AI tools and enhancements, and 62 per cent plan to hire more employees with skills to work alongside the technology. Kylie Walker, chief executive of the Australian Academy of Technological Sciences and Engineering, previously told there are plenty of potential benefits of AI, but not without guardrails. 'Greater adoption of AI could see Australia's economy increase by $200 billion annually, but it is critical that robust measures are rapidly implemented to safeguard these areas and position Australia at the forefront of AI development,' Ms Walker said. 'Investing further in local AI innovations will simultaneously create new AI industries and jobs here in Australia and reduce our reliance on internationally developed and maintained systems.'
