May 24, 2024 12:18 am
In the next five years, AI may eliminate nearly 8 million jobs in the United Kingdom

In the coming years, Artificial Intelligence (AI) could displace nearly eight million jobs in the United Kingdom, as predicted by a recent report from the Institute for Public Policy Research (IPPR). The report suggests that women, young workers, and part-time employees would be most affected by automation.

Tech mogul Elon Musk has warned of the disruptive force that AI poses. He believes that AI could render many jobs obsolete, leaving people with a need for personal satisfaction in employment. Carsten Jung, an economist at the IPPR, echoes this sentiment, emphasizing the potential for AI to both disrupt and boost the economy.

The study analyzed 22,000 different jobs across various sectors and highlighted the risk of automation on jobs such as administration, secretarial work, and customer service. The first wave of AI is expected to impact 11% of jobs in the UK while the second wave within three to five years could displace up to 7.9 million jobs.

While some experts predict improvements in productivity for companies due to widespread job displacement, others argue that it may hinder GDP growth. A best-case scenario involving AI empowering workers without significant job losses could lead to an increase in GDP.

The IPPR report calls on the UK government to implement an industrial strategy for AI that focuses on job creation rather than just exploration of its potential. This includes offering incentives such as tax breaks, regulatory changes and job training subsidies to encourage new job opportunities. However critics argue that more decisive action is needed to address challenges posed by new technology as seen in other regions like European Union and United States.

Overall, while AI has immense potential to revolutionize industries and improve efficiency across various sectors; it also poses a significant challenge when it comes to employment opportunities. It’s essential for policymakers and industry leaders to work together towards creating a future where technology benefits both individuals and society as a whole.

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