Posted 3/27/2024, 11:25:00 AM
AI Set to Transform UK Job Market, Putting Millions at Risk While Offering Economic Boost if Managed Correctly
- AI could automate up to 60% of tasks done by UK workers, putting 8 million jobs at risk, especially in customer service, back-office, and entry-level roles
- Women and Gen Z workers are most vulnerable to job losses from AI adoption
- Best case scenario, "second wave" of AI could boost UK economy by £306 billion per year and increase wages 30%, with right government policies
- UK lags behind other countries in AI skills - less than half of businesses invest in retraining workers
- Recommendations include fiscal incentives to augment rather than displace jobs, regulatory changes, and supporting "green" jobs less prone to automation