Politics · Australia · 10 hrs ago
Andrew Leigh warns AI ownership could widen income inequality
Australian assistant minister Andrew Leigh is warning that artificial intelligence could increase income inequality.
He is due to make the case in a speech to a JPMorgan AI conference.
AI may help less experienced workers become more productive and could reduce wage gaps between junior and senior staff.
But firms may then need fewer junior workers, and the biggest gains could go to the companies that own AI systems.
Leigh says this risk grows if banks, law firms, retailers and manufacturers depend on a small number of AI providers that can charge for access.
The issue matters because wages could become more equal while income from owning technology and other productive assets becomes more concentrated.
Leigh says the government wants AI’s benefits to be shared fairly, and a parliamentary committee is due to give the government interim findings on AI safeguards this week.
Andrew Leigh warned that ownership of artificial intelligence technology could increase overall income inequality, even if wage gaps narrow.
He said a small number of AI providers could collect a share of economic gains if businesses across industries rely on their systems.
Leigh argued that AI could make junior workers more productive while reducing the number of junior staff firms need.
He said the effects on inequality would depend on who owns productive assets and how much of the gains firms with market power capture.
Leigh is due to make the case in a speech to the JPMorgan AI Conference.
- Who
- Andrew Leigh, Australia’s assistant minister for productivity, competition, charities and treasury.
- What
- He warned that AI ownership could widen income inequality even as wage gaps shrink.
- When
- He is due to speak tomorrow, according to the article published on October 12, 2026.
- Where
- At the JPMorgan AI Conference. The article does not state where it is held.
- Why
- He said the gains from AI may flow mainly to technology owners, particularly if a small number of providers gain market power.
This story does not have two clearly opposing sides.
ABC Australia published its report, including an advance excerpt of Leigh’s planned speech.
Leigh is due to make his case about AI and inequality at the JPMorgan AI Conference.
The Joint Select Committee on Artificial Intelligence is due to table its interim findings on AI guardrails to the government.
- Speaker
- Andrew Leigh
- Conference
- JPMorgan AI Conference
- Report publication
- October 12, 2026
- Committee
- Joint Select Committee on Artificial Intelligence
- Committee chairs
- Jo Briskey and Jonno Duniam
What people are saying
If a handful of AI companies become toll collectors for the rest of the economy, overall income inequality could rise even as wage gaps shrink.
The economic question is the size of the toll.
AI could narrow the gap between the novice and the expert, but at the same time, it could widen the gap between people who earn mainly from their work and people who earn heavily from owning productive capital.
Our government will apply the enduring values of fairness to make AI work for Australians.
Sources
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