PwC: Jobs created by AI will balance out those it destroys

PwC is taking a more neutral approach regarding AI’s impact on jobs amid clashing arguments over whether it will create or destroy more in the long-term. The professional services firm’s analysts predict, in the UK at least, the number of jobs destroyed by AI is likely to be counteracted by the number of roles created. In fact, over the next 20 years, PwC expects around 7.2 million to be created versus seven million displaced – resulting in a small net jobs growth of around 0.2...

17 July 2018 | Government

UK Businesses: AI will create jobs, not destroy

The majority of UK businesses are reporting that AI will create more jobs than it destroys, helping to quell one of critics’ biggest fears. While many are excited about the possibilities of artificial intelligence, just as many have concerns. Most agree that, whether it’s predominantly good or bad, AI will have a profound impact on society. “Business leaders need to arm the workforce for a new ‘machine age’ of increasing artificial intelligence and automation,” says Duncan...

22 May 2018 | Robotics

Emtech China: Warnings of AI causing job losses continue

This year’s EmTech China conference in Beijing was filled with exciting insights at where AI is heading, but it also carried the usual warnings of potential job losses. The three-day event is organised by MIT Technology Review and features some of the world’s most talented experts. In the past, we’ve heard from the likes of Elon Musk saying AI will mean a ‘universal basic income’ will become necessary as more jobs become automated. Others counter this argument by claiming AI...

29 January 2018 | Government

Report: AI will increase the wealth inequality between the rich and poor

Artificial intelligence advancements will increase the disparity of wealth between the rich and poor, according to a new report. The report titled "Artificial Intelligence and Its Implications for Income Distribution and Unemployment" was presented last month through the National Bureau of Economic Research. Economists Anton Korinek (Johns Hopkins University) and Joseph E. Stiglitz (Columbia University) believe economic inequality “is one of the main challenges posed by the proliferation of...

11 January 2018 | Government

Research: Despite popular opinion, AI is creating jobs

Popular opinion suggests AI is here to steal our jobs, but research from Capgemini shows an increasing number of roles in firms which are implementing it. Capgemini announced the findings into nearly 1,000 organisations today in its “Turning AI into concrete value: the successful implementer’s toolkit” study. 83 percent of the firms say the implementation of AI has generated new roles in their organisations while three-quarters have also seen an uplift in sales. Further countering...

8 September 2017 | Research