A recent report warns that Artificial Intelligence (AI) could put as many as 8 million jobs in the UK at risk. The Institute for Public Policy Research (IPPR) conducted the analysis and highlighted the urgent need for the UK government to implement fair strategies to counteract potential job losses.
The report distinguishes two stages of AI adoption: the current phase and a more advanced phase where AI technology will be deeply integrated into business operations. In this advanced stage, up to 59% of tasks performed by workers could be susceptible to automation by AI if no preventive measures are taken.
Jobs most vulnerable during the initial phase include those in back-office, entry-level, and part-time roles such as secretarial, customer service, and administrative positions. Women, young people, and low-wage workers are likely to be disproportionately affected, as they often occupy these positions.
In the worst-case scenario projected by the report, the second phase of AI adoption could lead to a staggering 7.9 million job losses without any corresponding gains in Gross Domestic Product (GDP). However, the report also suggests a more optimistic scenario where proactive measures by the government and industry could result in significant economic benefits.
The best-case scenario envisions no job losses as AI augments human labor, potentially boosting GDP by 13%, equivalent to £306 billion annually. Carsten Jung, senior economist at IPPR, emphasizes the pivotal role of timely intervention to manage the impact of AI on the job market.
The report proposes a job-centric industrial strategy for AI, recommending tax incentives and subsidies to facilitate AI training for workers. Additionally, it calls for regulatory changes to ensure human oversight, particularly in critical sectors like healthcare.
While the UK government has yet to introduce specific AI legislation, recent initiatives allocate funds for AI research hubs aimed at responsible AI use across various fields. These efforts underscore the importance of proactive measures to harness the potential of AI while mitigating its adverse effects on employment.
Source: TheSun
