Major Australian Firms Bet on AI Upskilling Instead of Job Cuts

According to the 2026 CEO Survey reported by The Australian, several major Australian firms (NAB, Qantas, SGH, Medibank, Wesfarmers) are adopting a coordinated strategy to embed artificial intelligence as an efficiency driver while avoiding layoffs. These companies are investing in internal training programs and “AI Academies” to prepare their workforce for AI‑augmented workflows. Rather than viewing automation as a job threat, they see it as an opportunity to transform tasks and require new skills. This shift comes amid ongoing public concern about job displacement due to AI following past staff reductions tied to voice bots. Investing in upskilling is positioned as a way to stay competitive, support internal talent development, and promote responsible AI adoption in business.