CSIRO chief executive Larry Marshall has called on businesses to stop taking cost savings from automation to the bank and instead reinvest them to create better business models.
The former Silicon Valley entrepreneur, who was appointed to the top job at the CSIRO in 2014, was talking at The Australian Financial Review Innovation Summit, and addressing growing concerns that artificial intelligence-led advances will decimate the workforce.
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Yolanda Redrup is the co-editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
