Robotics, AI spark skill shortage scare for CEOs

AI is forecast to contribute up to $15.7 trillion to the global economy by 2030 which is more than the current output of China and India combined. However only 10 per cent of Australian CEOs are clear on how robotics and artificial intelligence can improve their customer's experience, and 65 per cent are concerned about changing consumer behaviour with respondents listing this as the likely number one disruptive trend over the next five years. In the year from October 2016 to September 2017, KPMG reported there were 155 frauds reported with a value of $482 million – a significant drop from 259 frauds worth $823 million the year before, however identity theft saw a sharp increase to nearly $17.9 million and cyber-crime is on the rise (including hacking, compromising computer accounts, skimming digital data and porting mobile phones) which accounted for 6 per cent of all frauds and 7 per cent by value ($33.8 million).