 "UK will lose over 8 million jobs because of AI, almost 60% jobs to be affected if policies not updated")
The UK may be looking at a severe job crisis soon as more and more employers start considering artificial intelligence (AI) for their businesses.
The Institute for Public Policy Research (IPPR) has issued a stark warning, estimating that up to 8 million workers in the UK are vulnerable to losing their jobs due to AI, if the policies governing AI and employment stay as they are under current government policies.
According to a report published by the IPPR, AI is already affecting 11 per cent of tasks performed by UK employees, a figure projected to soar to nearly 60 per cent if companies deepen their integration of the technology.
Particularly at risk are part-time, entry-level, and back-office roles such as customer service, although higher-paying positions will also increasingly feel the impact.
The IPPR’s findings underscore the challenges faced by the government as it pins its hopes on AI to address the UK’s productivity woes.
While companies aim to enhance efficiency through AI adoption, the UK Chancellor of the Exchequer has announced a substantial £800 million investment in technology and AI to bolster public-sector productivity.
Carsten Jung, senior economist at IPPR, emphasized the transformative potential of AI, describing it as a “game changer” for millions. However, Jung warned that without proactive measures from government, employers, and unions, there is a risk of a “jobs apocalypse.”
The IPPR report emphasizes the critical role of government policy in shaping the impact of AI adoption on the labour market. Modelling various scenarios, researchers found that with appropriate policies, AI could contribute significantly to economic growth without causing job losses.
Impact Shorts
More ShortsConversely, without intervention, AI adoption could result in the displacement of 8 million jobs in the UK, with no corresponding economic benefits.
A separate study from LinkedIn revealed that the UK lags behind other countries in AI skills, highlighting the urgent need for upskilling initiatives.
Janine Chamberlin, UK country manager for LinkedIn, stressed the importance of investing in skills development to bridge the gap between existing skills and those required in the age of AI.
The IPPR recommends the development of an industrial AI strategy to facilitate job transitions and ensure the equitable distribution of automation benefits across the economy. Suggestions include fiscal incentives, regulatory changes, and support for green jobs less susceptible to automation.
As AI reshapes the workforce landscape, proactive measures at both organizational and governmental levels are essential to mitigate the potential negative impacts and harness the benefits of AI-driven innovation.
(With inputs from agencies)
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