Tuesday, July 24, 2018

Artificial intelligence will be net UK jobs creator

A recent report from PricewaterhouseCoopers has argued that AI would create slightly more jobs (7.2m) than it displaced (7m) by boosting economic growth in the UK. The firm estimated about 20% of jobs would be automated over the next 20 years and no sector would be unaffected. This counters a lot of doomsayers who have predicted that AI will potentially decimate employment. In some sectors these pessimists are not wrong: PWC predicts that transportation and storage will lose 38% of its jobs to AI. However, PWC are predicting that these job losses will be more than countered by gains in health and social work, education, professional and IT work, and other service sectors. You can read PWC's full report here.

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