AI Is Predicted To Replace Eight Million British Jobs

Uploaded on 2024-07-23 in TECHNOLOGY-Key Areas-Artificial Intelligence, JOBS-Training, FREE TO VIEW

Just like previous Industrial Revolutions, Artificial Intelligence (AI) is now transforming the labour market. Now, research is warning women, young workers, and low-paid individuals face the greatest threat from automation.

Almost 8 million UK jobs could be lost to AI in a “jobs apocalypse”, according to a report warning that women, younger workers and those on lower wages are at most risk from AI-driven automation of many jobs.

The Institute for Public Policy Research (IPPR) Report says that entry level, part-time and administrative jobs were most exposed to being replaced by AI under a “worst-case scenario” for the rollout of new technologies in the next three to five years. Analysing 22k tasks in the economy covering every type of job, the IPPR said 11% of tasks currently done by workers were at risk.

This could, though, increase to 59% of tasks in the second wave as technologies develop to handle increasingly complex processes.

The IPPR warning reflects a similar warning issued recently, when the International Monetary Fund (IMF) said that almost 40% of worldwide jobs could be affected by AI, which could result in replacing jobs and worsening inequalities.

The IPPR has warned that the UK is facing a significant change as increasing numbers of companies adopt Generative technologies, which can read and create text, data and software code, to automate everyday workplace tasks.

Government action could help to harness the power of AI to boost economic growth and raise living standards.. “Already existing generative AI could lead to big labour market disruption or it could hugely boost economic growth,” Carsten Jung, senior economist at IPPR, was quoted by the Guardian newspaper as saying. “Either way, it is set to be a game-changer for millions of us.. But technology isn’t destiny and a jobs apocalypse is not inevitable – government, employers and unions have the opportunity to make crucial design decisions now that ensure we manage this new technology well,” said Jung. “If they don’t act soon, it may be too late,.” the Report says.

The report also said this first wave of AI adoption was already putting jobs at risk as growing numbers of companies introduce the technology. However, a second wave could lead to the automation of more jobs amid rapid advances in AI.

Image: Unsplash

You Might Also Read:

IT Professionals Can Earn 35% More By Switching To AI:

If you like this website and use the comprehensive 7,000-plus service supplier Directory, you can get unrestricted access, including the exclusive in-depth Directors Report series, by signing up for a Premium Subscription.