Australian small and medium enterprises in digitized industries such as finance, property, and business services are using artificial intelligence at two to three times the rate of manufacturing, transport, and retail sectors, according to a Friday report by National Australia Bank.

The bank said about 15% of jobs in Australia are highly or significantly exposed to AI, with early evidence of slower employment growth in more exposed occupations since late 2022, when ChatGPT was introduced.

"While it is difficult to attribute these changes solely to AI, there are signs that labor market dynamics are starting to shift in areas with higher exposure," NAB Chief Economist Sally Auld said.

NAB said 42% of small and medium enterprises are already using AI, and a further 14% are planning to, with two-thirds of businesses in real estate and accounting using AI, while adoption rates in manufacturing, retail, and transport vary between 21% and 35%.

Industries such as finance, professional services, and technology are more immediately placed to benefit, given the nature of their work, while others may experience a more gradual transition, the report added.

Imports of automated data processing equipment have surged in recent months, and data centers are making a noticeable contribution to growth in business investment, with NAB noting that while some jobs will be lost and new ones created, stronger productivity growth could lift real wages and aggregate demand, it added.

"Over time, the net impact will depend on how productivity gains flow through to wages, demand, and job creation across the broader economy. What we do know is that historically we've seen technology create more jobs than it displaces in the long run." Auld added.