Posted: 28.03.2024 10:49:00

UK could lose 8m jobs due to AI

Up to 8 million British workers are at risk of losing their jobs due to artificial intelligence (AI) under current government policies – as warned by the Institute for Public Policy Research, Bloomberg reports


According to the report published by the think tank, AI already impacts 11 percent of tasks performed by UK staff, and this figure could rise to almost 60 percent if companies become more proactive in adopting the technology. Part-time jobs, entry-level professionals and office workers who serve customers are most at risk. However, there will also be an increasing impact on higher-paying jobs.

“The findings highlight the challenges facing the government as it increasingly bets on artificial intelligence to cure the UK’s productivity problem. Companies across the board are using AI to drive up efficiency, while Chancellor of the Exchequer Jeremy Hunt announced an £800m ($1bn) investment in technology and AI to boost public-sector output,” the publication reads.

In its own report released in November, the government acknowledged that AI is already having an impact on jobs in the finance and insurance sectors. It also urges schools and employers to train people in the skills needed to adapt to AI.