The rise of Artificial Intelligence technology might not create the expected jobs extinction predicted by many, new research has claimed.
A report from PwC has estimated that AI might actually lead to an increase in jobs, as the technology creates as many jobs as it displaces.
PwC predicts that although the rise of AI could mean around 7 million existing jobs being displaced, around 7.2 million could be created, giving the UK a small net jobs boost.
AI jobs boost
The report highlighted that job losses will be more keenly felt in certain industries, with others seeing a marked increase in career opportunities.
Healthcare was predicted as being the big winner when it comes to AI jobs, with an estimated 22 per cent net increase in jobs over the next 20 years. professional, scientific and technical services (16 percent increase) and education (six percent increase) will also see significant net increases in the long run, with AI proving a boon to these fields.
However other areas will not perform quite as well, with manufacturing (-25 percent), transport and storage (-22 percent) and public administration (-18 percent) all predicted to see significant drops in job numbers as AI becomes more commonplace.
“AI offers a huge potential economic boost to the UK and it’s great to see the government recognise and support the development of the sector through the AI Sector Deal," said Euan Cameron, UK AI leader at PwC.
“People are understandably worried about the impact of AI on jobs, and businesses and the government need to address these concerns head on.
“Historically, rapid technology change has often been associated with increases in wealth and income inequality, so it’s vital that government and business works together to make sure everyone benefits from the positive benefits that AI can bring. These include increased productivity and consumer choice, as well as improved outcomes in those areas that matter most to people such as education to healthcare.”
