Two of the country’s leading chief executives have warned that Australia is in danger of falling behind as the rise of artificial intelligence creates a profound change in the way people work, calling for frank conversations about the benefits and dangers of a shift that could define national productivity and growth for decades.

Commonwealth Bank’s Matt Comyn and Telstra’s Vicki Brady both said the impact and speed of advances in AI was moving at a faster rate than most expected, and would change work, education, innovation and performance in the public and private sectors.