According to a report by PWC, over the next 20 years 7 million jobs could be displaced by AI. However, the report also suggests that the rise of AI could mean 7.2 million jobs are created. PWC suggests that jobs will be created in the health and social work sector and the manufacturing industry will suffer the greatest job losses.
Euan Cameron, AI leader at PWC says that "People are understandably worried about the impact of AI on jobs and businesses, and the government need to address these concerns head on. Our research highlights where the biggest impacts will be, and which areas are most vulnerable, so that businesses and government can plan how best to help people develop the skills that will prepare them for the future... it’s vital that government and business works together to make sure everyone benefits from the positive benefits that AI can bring. These include increased productivity and consumer choice, as well as improved outcomes in those areas that matter most to people such as education to healthcare.”
You can find out more about the PWC report on AI and their recommendations to mitigate the displacement effect and make the most of the income effect here.
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