CBA CEO: AI Will Reshape Jobs Across Australian Economy

Commonwealth Bank of Australia CEO Matt Comyn warned in an opinion article that artificial intelligence will reshape jobs across the Australian economy, and he urged employers not to downplay the effects on workers. The bank is cutting about 120 roles after an earlier round that affected roughly 300 staff.

Comyn wrote that the near-term and decade-ahead future of work is uncertain. He said some tasks are likely to be automated, some positions may shrink, and other roles could expand. Many jobs may keep their basic structure while the skills and responsibilities required change. He added that it is easier to predict which tasks may disappear than to imagine entirely new kinds of work.

He described how work at large organisations such as the Commonwealth Bank could be reorganised. Some functions may be handled by smaller teams, while employees using AI could take on more complex work earlier in their careers. “This will mean real change for people,” he wrote. “Pretending otherwise does not protect workers. It only ensures they are surprised later.”

The bank said the latest round of reductions is part of broader workforce adjustments linked to technology and productivity changes. Executives said staff who leave will be offered support services and that remaining employees will take on reconfigured roles shaped by new tools. The 120-role reduction follows the earlier round announced about two months ago.

Comyn’s comments come as companies across technology and other sectors report large job cuts tied to automation, cost cutting and restructuring. Industry tallies show more than 144,000 job cuts so far in 2026, and US tech layoffs reached roughly 52,000 in the first quarter of the year, a year-over-year rise of about 40 percent.

The discussion over AI and employment has prompted calls for clearer reskilling programs and transition support for workers whose roles change or disappear. Comyn wrote that employers and policymakers need to be honest about the scale of change and prepare people for new skill demands and workplace structures.