According to a recent report by the Institute for Public Policy (IPPR), there could be a “jobs apocalypse” in the United Kingdom due to artificial intelligence (AI). It warns that nearly 8 million jobs are at risk of being replaced by AI.
Who is at the most risk?
Women, younger workers, and those on lower wages face the highest risk of losing their jobs to AI. It includes entry-level, part-time, secretarial, customer service, and administrative roles.
Two waves of AI adoption
According to the report, there will be two waves of AI adoption: the first wave, already underway, and a second wave where AI tech will be deeply integrated into workplace processes.
The think tank analysed over 22,000 tasks done manually by workers, covering almost every type of job, and deduced that 11% of tasks such as database management, scheduling, and stocktaking could be automated. Not only that, the study predicted that during the second wave, up to 59% of tasks done by the workers manually could be replaced by AI.
What is the ‘worst-case scenario’?
In the worst-case scenario, the second wave of AI adoption could cause 7.9 million job losses without any GDP gains. Carsten Jung, senior economist at IPPR told the Guardian, “Already existing generative AI could lead to big labour market disruption or it could hugely boost economic growth. Either way, it is set to be a gamechanger 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. If they don’t act soon, it may be too late.”
However this could be controlled by proper intervention if workers are augmented to work alongside AI, it could lead to an economic boost of up to 13% to GDP, around £306 billion a year.
The IPPR report urged the government to implement a job-centric industrial strategy for AI. This includes tax incentives, subsidies for AI training, and regulatory changes. The government last month announced plans to invest £90 million in AI research hubs across the UK to explore responsible AI use in various sectors.
(With inputs from agencies)
