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AI may cause the UK to shed more than 8 million positions, with close to 60% of jobs likely to be significantly altered if no policy updates are made
Approximately 8 million employees in the UK could end up unemployed, and over 60% could experience a radical shift in their job roles, if the government led by Rishi Sunak fails to implement measures to protect employment for humans.
The UK might face a serious employment issue in the near future as an increasing number of businesses contemplate incorporating artificial intelligence (AI) into their operations.
The Public Policy Research Institute (IPPR) has given a stern caution, projecting that as many as 8 million employees in the UK risk unemployment due to AI, if the regulations around AI and job security remain unchanged under the present government policies.
The IPPR reports that AI has already influenced 11% of tasks done by UK workers. This number is expected to jump to almost 60% if businesses further incorporate this technology.
Positions that are notably vulnerable include part-time, beginner, and behind-the-scenes jobs like customer service. However, higher-earning roles will also progressively experience the effects.
The results from the IPPR highlight the difficulties the government is encountering as it relies on AI to tackle the UK's efficiency issues.
Businesses strive to improve performance by embracing AI, meanwhile, the UK's Finance Minister has declared a significant investment of £800 million in technology and AI to boost productivity in the public sector.
Carsten Jung, a high-ranking economist at IPPR, highlighted the revolutionary impact of AI, identifying it as a major shift for millions. Nevertheless, Jung cautioned that in the absence of preventive actions from the government, employers, and unions, there's a possibility of a significant job crisis.
The IPPR study underscores the importance of governmental regulations in determining the effect of AI integration on the job market. By simulating different situations, the researchers concluded that with the right policies, AI could greatly enhance economic development without leading to unemployment.
On the flip side, if no action is taken, the uptake of AI could lead to the loss of 8 million jobs in the UK, without bringing any economic advantages.
A different research conducted by LinkedIn has shown that the UK is trailing other nations in terms of AI expertise, underlining the immediate necessity for programs aimed at enhancing skills.
Janine Chamberlin, who is in charge of LinkedIn in the UK, emphasized the necessity of putting resources into skills enhancement to close the gap between current abilities and those needed in the era of artificial intelligence.
The IPPR suggests creating a strategy for industrial AI to assist in job changes and guarantee a fair allocation of the advantages of automation throughout the financial system. Proposals consist of financial motivations, modifications to regulations, and backing for environmentally-friendly jobs that are less likely to be automated.
The transformation of the employment environment by AI necessitates active steps from both corporations and governments to lessen potential adverse effects and capitalize on the advantages brought about by AI-based innovation.
(Incorporating information from various sources)
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