AI Looms Over UK Job Market: Report Warns of Up to 7.9 Million Losses in Next Five Years

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

The Institute for Public Policy Research (IPPR) has released a report warning that nearly eight million jobs in the UK could be eliminated due to automation within the next five years. Women, young workers, and part-time employees are expected to be the most affected by this disruption. Elon Musk, a tech entrepreneur, has also predicted this outcome during an AI security summit.

Carsten Jung, an economist at IPPR, emphasizes that generative AI could transform the labor market and economy. The first wave of AI is already endangering jobs in areas like administration, secretarial work, and customer service. If left unchecked, the second wave could potentially displace up to 7.9 million jobs within three to five years.

To mitigate job losses and boost the economy, IPPR calls for an industrial strategy that prioritizes job creation with incentives such as tax exemptions, regulatory changes, and subsidies for job training in AI. The UK government has allocated funds to explore AI’s potential in various sectors but needs to take a more decisive approach to address the challenges posed by new technology as other countries like the EU and US take proactive steps.

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