Macquarie: 10% of Australian mortgage repayments face risks from AI disruption

According to Golden Ten Data on March 10, Macquarie analysts stated that up to 10% of Australian mortgage repayments come from groups whose jobs are most vulnerable to the impact of artificial intelligence. The bank's analysts pointed out that software engineers, accountants, and advertising professionals are among the most affected groups, and warned that this poses a potential risk to the credit quality of major banks. They believe that this impact will first manifest as an increase in mortgage risk weights and a rise in loan impairments related to small and medium-sized enterprises. They added that National Australia Bank has the largest exposure to the latter risk. Macquarie's analysts also included their own profession among the groups facing risk.