AI 'apocalypse' could wipe out 8 million jobs in the U.K., and women and Gen Z are most at risk
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As many as 8 million UK workers are at risk of losing their jobs to artificial intelligence (AI) with current government policy, according to the Institute for Public Policy Research (IPPR). AI already impacts 11% of tasks done by UK staff, a figure that could rise to almost 60% if firms integrate the technology more deeply. Part-time, entry-level, and back-office jobs such as customer service are most at risk, but higher-paying work will increasingly be affected. The IPPR report highlights the challenges facing the government as it bets on AI to boost productivity. The government's policy will determine whether AI adoption leads to job losses or economic growth. Without any policy changes, AI is estimated to wipe out 8 million jobs in the UK. However, the technology could add as much as £306 billion per year to the UK economy without any job losses in the best-case scenario, depending on government policy. Women and Gen Zers are most at risk of being displaced by AI, as women are disproportionately employed in tasks most impacted by the technology, and companies may rely more on AI for entry-level tasks instead of hiring graduates. The IPPR recommends developing an industrial AI strategy to support job transitions and the distribution of automation gains across the economy. The government should also provide fiscal incentives to augment jobs, make regulatory changes, and support green jobs that are less prone to automation. The UK lags behind other countries in AI skills, and fewer than half of UK businesses are investing in up-skilling their workers. The Department for Science, Innovation, and Technology called the research 'hugely speculative' and stated that AI already contributes more than £3.7 billion to the UK economy annually.

#Ai #JobLosses #Uk #Women #GenZ

https://fortune.com/europe/2024/03/27/ai-apocalypse-could-wipe-out-8-million-jobs-in-the-u-k-women-and-gen-z-are-most-at-risk/