‘Winners and losers’ likely as report reveals impending impact of AI on jobs

Artificial Intelligence (AI) will create as many UK jobs as it replaces in the next 20 years, according to a new data.

Research from professional services giant PwC suggested that AI will boost economic growth and create roles as others become redundant.

However, the analysis warned that certain industries would be hit harder than others in th shifting employment landscape.

While AI could displace around seven million jobs between 2017 and 2037, according to PwC’s findings, it could also create 7.2 million – resulting in a net jobs boost of around 200,000 roles in the UK.

Some sectors are likely to benefit more than others, particularly health (increasing 22%), scientific and technical services (16%) and education (6%).

Employment in manufacturing could be adversely affected, with jobs falling 25%. Losses could also be seen across transport and storage (22%) and public administration (18%).

PwC chief economist John Hawksworth said: “Major new technologies, from steam engines to computers, displace some existing jobs but also generate large productivity gains.

“This reduces prices and increases real income and spending levels, which in turn creates demand for additional workers.”

He added: “Our analysis suggests the same will be true of AI, robots and related technologies, but the distribution of jobs across sectors will shift considerably in the process.”

Euan Cameron, PwC’s UK AI lead, commented: “As our analysis shows, there will be winners and losers.

“It’s likely that the fourth industrial revolution will favour those with strong digital skills, as well as capabilities like creativity and teamwork which machines find it harder to replicate.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →