AI may only create 19% of the jobs it replaces

Artificial Intelligence is often forecast to create more jobs than it replaces, however a new analysis suggests that at current growth rates, AI will only cover 19% of the jobs lost after its implementation. The realignment of labour may not be confined to blue-collar work meanwhile, with AI increasingly being leveraged by consulting firms and companies to find solutions without less need for costly human input. The continued march of innovative new Artificial Intelligence (AI) has brought with it the potential for improved efficiency of resources, heightened productivity in manufacturing, and even the potential for low-cost medical care in the developing world. However, not all the effects of the new AI revolution are thought of in positive lights. The rise of global hacking phenomena such as the WannaCry ransomware event have undoubtedly led some to question whether entrusting machinery with large levels of control in human life is especially sensible, however far more commonly, the chief concern is that the role out of AI in workplaces will mean mass job losses. The Office of National Statistics’ (ONS) Annual Population Survey recently estimated the UK has seen the number of manufacturing jobs nosedive by 17% over the past decade. The possible loss of…

Link to Full Article: AI may only create 19% of the jobs it replaces

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