The impact of artificial intelligence on the labor market is a hotly debated topic. But which changes are realistic? If the worst case scenario were to occur in Great Britain, the use of AI could put eight million Britons out of work.
Will AI create jobs or destroy them, leaving many people unemployed? This question is currently being extensively discussed in specialist circles.
A British think tank has now predicted a jobs apocalypse in a worst-case scenario. This could have a devastating impact on the UK labor market.
How many people will become unemployed due to AI?
Around eight million people in Great Britain could lose their jobs due to the use of artificial intelligence. This is the result of a study by the Institute for Public Policy Research (IPPR), which was reported by the Guardian reported.
The researchers speak of a “job apocalypse” if this worst-case scenario were to occur. AI would therefore primarily make women, younger workers and low-income earners unemployed, as their jobs would be most affected by automation through AI.
According to the IPPR, these primarily include entry-level jobs as well as part-time and administrative jobs. The displacement of these could take place in the next three to five years.
Second wave of AI brings even more automation
The IPPR report describes AI adoption as waves. The first wave currently taking place is already putting jobs at risk. A second wave could lead to even more automation due to rapidly increasing advances in the field.
Eleven percent of the tasks currently carried out by employees are at risk. In the second wave, this number could increase to 59 percent. According to the IPPR, these tasks include routine tasks such as scheduling, inventory or database management.
But the IPPR paints a bleak picture not only for employees. While around eight million jobs could be saved in this worst-case scenario, zero GDP growth would wipe out these productivity gains.
In the best-case scenario, AI doesn’t put anyone out of work
But the think tank doesn't just paint the devil on the wall with its report. Because a best-case scenario was also developed.
Accordingly, no jobs would be lost through the use of AI. The economic volume would increase by four percent to 92 billion pounds per year.
The IPPR therefore calls on the government, employers and trade unions to take advantage of these opportunities. Because AI could “lead to major disruptions in the labor market or boost economic growth enormously,” as Carsten Jung, senior economist at IPPR, explains.
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Source: https://www.basicthinking.de/blog/2024/03/28/job-apokalypse-ki-arbeitslos/
