Australia’s AI Opportunity – Are We Ready to Take Advantage?

A 16-page paper by the Actuaries Institute, Where Are Australia’s Data Science Leaders? The Case for Technical Career Pathways, contends that AI transformation requires leadership teams with a deep, practical grasp of what it can and cannot do.

The paper also highlights an investment imbalance. Only 18%, about A$650 million, of Australia’s AI spend is going to infrastructure and foundational capabilities, the bedrock for long-term competitiveness.

Peer nations are moving faster: Canada is investing roughly A$2.7 billion and Singapore about A$5 billion in AI development and adoption.

Research conducted by NIBA also reveals important insights about Australia’s AI opportunity when it comes to the broking profession. At the recent 2025 Convention, NIBA released a landmark report, Ready or Reacting? Shaping the Future of the Insurance Broking Profession, that sets a roadmap for the broking profession in the coming decade.

NIBA’s research identifies technology and automation as the top disruptive force over the coming decade by brokers. The report identifies 8 key disruptive forces and their impact, comparing it with the level of preparedness for each across the profession.

What’s important to note here is that technological disruption is outpacing preparedness. While 83% of brokers expect technology and automation to have significant impact by 2035, only 61% feel prepared.

“This research is a clear call to action,” said NIBA CEO Richard Klipin. “Our commitment is to help brokers build capability, elevating professional standards and advocating for a policy environment that supports innovation and the broking value proposition for clients and communities.”

Read NIBA’s Ready or Reacting report here.