(okay, I shouldn't actually be here and have work to do, buuuuuut you guys got me interested in some things, so...

If I return after this, can people please tell me to get lost? kthx <3)
When you take the inverse of a many-to-one function, you get a one-to-many relation, which is no longer a function (well, not by the definition VCE methods goes by).
Pray tell what the other definition of a function in mathematics is?

i remember just doing multiplication all day in grade 2 :/
when will we need inverses in life?
The thing with high school mathematics is that a lot of this isn't required for life - it IS, however, required for future mathematics, which may lend itself to some career you do (particularly if you go for anything in the sciences or engineering, plus other stats-heavy careers such as things contained by commerce degrees).
In particular, this is useful for defining the inverse circular functions (done in specialist~), which are INCREDIBLY useful for finding the angles defined by triangles.
The idea of the "inverse function" is also particularly useful in defining the logarithm, which is the inverse of the exponential function. In fact, this definition has MANY applications in scientific modelling by differential equations (an example being the break-down of radioactive isotopes). Whilst the inverse function itself didn't help us with these models, the knowledge it gave us has.