PwC: A.I. will create more jobs than it destroys. But is it right? | Special report | Internet of Business
Countering apocalyptic newspaper reports, PwC has produced an optimistic outlook for UK employment on the back of new technologies, such as AI, robotics, and automation. Chris Middleton isn’t convinced by the figures, and warns that they appear to have ignored four serious problems.
Artificial Intelligence (AI) will create more jobs in the UK than it displaces by boosting economic growth, claims a new report from PwC.
The report finds that around seven million existing jobs could be displaced by the technology over the next 20 years, while around 7.2 million new ones could be created: a net gain of 200,000 jobs.
The research builds on an earlier PwC study that estimated the proportion of UK jobs at high risk of automation. By combining estimates from those earlier research studies with new analysis, PwC presents a detailed estimate of the net long-term impact of AI and related technologies on UK employment, broken down by industry sector.
Although PwC estimates that the overall effect on UK jobs will be neutral, there will be net winners and losers by industry sector, claims the new AI report.