Artificial intelligence and related technologies will create as many jobs as they destroy in the UK over the next 20 years, according to PwC. The consultancy says its current forecasts suggest that the overall net effect of AI on UK jobs may be broadly neutral.
The economic sectors set to see the largest net increase in jobs due to AI over the coming two decades include health (+22%), professional, scientific and technical services (+16%) and education (+6%), according to PwC forecasts .
However, there’s bad employment news for others. The largest net long-term decreases in jobs will be in manufacturing (-25%), […]
Artificial intelligence will create as many jobs as it displaces in the UK, but its impact will be felt disproportionately across different sectors, according to PwC research. According to the firm, AI is set to create 7.2 million jobs over the next 20 years, slightly more than the seven million predicted to be lost to automation.
However, the impact of new technologies won’t be felt evenly across all industries. Sectors like healthcare and education are set to benefit , whereas manufacturing and transport are estimated to see the largest decreases in jobs due to AI.
"People are understandably worried about the […]
Are modern technological innovations now of such intensity and scale that in the future it is likely to see fewer job opportunities across the Western world and a sharp increase in leisure time? The disruption caused to the job market by Industry 4.0, robotization and the rise of people-free delivery services is already well-documented. There is evidence to suggest that changes will happen on a significant socio-economical scale, compared with the sporadic technical upgrades we have seen until now.
However, it raises several interesting questions: as a workforce are we ready, socially and psychologically, for an increase in leisure time?
AI will not result in large-scale unemployment, but it will force millions to retrain and switch careers over the next 20 years, according to a report by PwC.
The report found that AI will create around the same number of jobs as it destroys, dismissing previous fears that it would lead to rampant unemployment. However, it also found that there will be “winners” and “losers”, with some industries seeing significant decline in jobs while others will see a rise.
“Major new technologies, from steam engines to computers, displace some existing jobs but also generate large productivity gains,” […]
Artificial intelligence will create as many jobs as it displaces by boosting economic growth, says analyst
The arrival of artificial intelligence (AI) will be a win for the UK jobs market as it will create as many jobs as it displaces by boosting economic growth over the next 20 years.
This is the claim in a new report from PwC , which found that although the overall effect on UK jobs is estimated to be broadly neutral, there will be “winners” and “losers” by industry sector.It comes after Oxford University researchers last Autumn warned that 80 percent of jobs in transportation, […]
Artificial intelligence is set to create more than 7m new UK jobs in healthcare, science and education by 2037, more than making up for the jobs lost in manufacturing and other sectors through automation, according to a report.
A report from PricewaterhouseCoopers argued that AI would create slightly more jobs (7.2m) than it displaced (7m) by boosting economic growth. The firm estimated about 20% of jobs would be automated over the next 20 years and no sector would be unaffected.
AI and related technologies such as robotics, drones and driverless vehicles would replace human workers in some areas, but also create […]
Beyond the scare bait, the future of work is an issue of critical importance to Australia’s future prosperity and social wellbeing – and education is at its core.
"Rather than robots stealing our jobs, are we just training people to be more like robots – technically proficient but not necessarily socially skilled?”
A successfully integrated school, VET and higher-education system can ensure Australia has a workforce equipped for the vocational and professional challenges of the future. This is a critical policy issue for business and government – and the subject of vexed political debate in Australia.It is true the […]
To address labour market challenges, economists have mooted solutions such as skilling and training, taxation policies, social safety nets. Sitakanta Panda
AI, robotics and Big Data are the facets of the digital revolution in which automation is the central theme. There are many aspects to the phenomenon, which most people perceive as a problem. When seen as a problem, there are many aspects to it too. For instance, on social media platforms like Twitter, “bots” are used to inflate the numbers of followers of celebrities or politicians, and also for trolling. Automation and digital revolution has led to anxiety […]
New technologies bring innovations, in business, and change the course of the work being done. But does a technical revolution bring shift in employment patterns too?
The Industrial Revolution which began in the 18th century was a transition to new manufacturing processes characterised by new inventions. The industrial revolution effectively increased the output levels and also saw improved systems of transportation, communication and banking. But the Industrial Revolution also took some key sacrifices, the change destroyed traditional jobs, but it also created new ones. The technology of the Industrial Revolution helped in discoveries of the modern industrial marvels and gave […]
Technology As ASEAN+3 economies pursue growth and resilience a decade after the onset of the global financial crisis, one question looms large: Is technology a boon or bane for these states?
The most advanced economies, such as Japan, Korea, and Singapore, are better-positioned than the rest of the region to face the challenges posed by technology. However, the impact of technology on growth and employment does not materialize in isolation. Rather, it manifests itself in interactions with ongoing changes in the nature of cross-border production and trade and shifts in demographics.
The technology-related challenges that emerge for economies across the region […]