• Wed. May 29th, 2024

Artificial Intelligence (AI) threatens to eliminate nearly 8 million jobs in the UK within the next five years.

Byeditor

Mar 27, 2024

Artificial Intelligence (AI) has the potential to eliminate nearly eight million jobs in the United Kingdom over the next five years, according to a recent report by the Institute for Public Policy Research (IPPR). The report highlights that women, young, and part-time workers would be the most affected by automation. This prediction has been supported by tech entrepreneur Elon Musk, who warned of the disruptive force of AI during an AI security summit.

Carsten Jung, an economist at IPPR, emphasizes the transformative impact of generative AI on the labor market and the economy. Whether this disruption leads to job loss or economic growth depends on how new technology is managed. Jung stresses the importance of government, companies, and unions taking action to navigate this technological shift effectively.

The IPPR study analyzed 22,000 different jobs across various sectors, identifying that the first wave of AI could endanger jobs in areas like administration, secretarial work, and customer service. The second wave, expected within three to five years, could potentially displace up to 7.9 million jobs, particularly affecting women and young workers.

The report outlines potential scenarios ranging from total job disruption to an increase in GDP with the incorporation of generative AI. To mitigate job losses and boost the economy, the IPPR calls for an industrial strategy that focuses on job creation with incentives like tax exemptions, regulatory changes, and subsidies for job training in AI.

The UK government has allocated funds to explore the potential of AI in various sectors, but critics argue that a more decisive approach is needed to address the challenges posed by new technology. As other countries like the EU and US take proactive steps, there is a growing urgency for the UK to respond effectively to the impact of AI on the labor market.

In addition to the discussion on AI and automation, there are additional articles listed on various topics such as innovative sermons by Pastor Mike Todd, Hozier’s song “Take Me to Church,” and guides to finding the best restaurants in Austin, Texas.

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