CNBC Conversation's Karen Tso talks with former Australian Prime Minister Julia Gillard, who reflects on her former role as the prime minister, and the advice she'd give to fellow politicians.

Gillard may have been born in a small Welsh town of Barry, but she went on to become Australia's first female Prime Minister, steering 532 pieces of legislation through a hung parliament and tackling the issue of gender in the workplace, with her famous 2012 "misogyny and sexism" speech.

Gillard also discusses in the CNBC interview about the Australian economy, the changing shape of politics and migration.