AI Revolution: UK Predicts Nearly 8 Million Jobs Eliminated in Next Five Years due to Automation

Artificial Intelligence (AI) threatens to eliminate nearly 8 million jobs in the UK within the next five years.

The report by the Institute for Public Policy Research (IPPR) predicts that nearly eight million jobs in the United Kingdom could be eliminated over the next five years due to automation. The most affected groups are women, young workers, and part-time employees. This prediction is supported by tech entrepreneur Elon Musk who warned of the disruptive force of AI during an AI security summit.

Carsten Jung, an economist at IPPR, emphasizes the transformative impact of generative AI on the labor market and economy. He stresses the importance of government, companies, and unions taking action to navigate this technological shift effectively. The study analyzed 22,000 different jobs across various sectors, identifying that the first wave of AI could endanger jobs in areas like administration, secretarial work, and customer service. The second wave expected within three to five years could potentially displace up to 7.9 million jobs.

The report outlines potential scenarios ranging from total job disruption to an increase in GDP with the incorporation of generative AI. To mitigate job losses and boost the economy, IPPR calls for an industrial strategy that focuses on job creation with incentives like tax exemptions, regulatory changes, and subsidies for job training in AI.

There is a growing urgency for governments worldwide to respond effectively to the impact of AI on labor markets as other countries like the EU and US take proactive steps. While there have been efforts by governments in various sectors to explore

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