The Diploma of Insurance Broking is at “critical risk” from advances in generative artificial intelligence and in urgent need of revision, according to a new study.

It is one of just four qualifications to receive the label among 89 assessed by the federal government’s Future Skills Organisation.

The organisation says the broking qualification is of high importance for industry, and this makes it “critical to review” for changes that consider AI’s impact on work practices.

“This report helps to identify which areas we should look at first,” skills organisation CEO Patrick Kidd said. 

“We are keen to understand how the training system needs to respond to the impact of generative AI. 

“This research helps to identify the highest-priority areas for attention when we collaborate with training providers and industry to help ensure our qualifications reflect the needs of the economy.” 

The study identified qualifications’ exposures to generative AI across finance, technology and business sectors that employ one-fifth of Australian workers.  

“Generative AI is already making a huge influence on the workplace. However, it is still early days and we need to better grasp what this means for the skills required,” Mr Kidd said. 

See the report here.