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The UK could see a loss of more than 8 million jobs due to AI, with close to 60% of jobs at risk if policies aren't revised
The UK could potentially see around 8 million people out of work, and more than 60% facing significant changes to their employment, if the government under the leadership of Rishi Sunak doesn't implement policies to protect human employment.
The UK may soon face a significant employment issue as an increasing number of businesses begin to explore the use of artificial intelligence (AI).
The Institute for Public Policy Research (IPPR) has given a severe alert, calculating that as many as 8 million employees in the UK are at risk of unemployment because of AI, if the regulations controlling AI and employment continue to remain as they are under the existing government policies.
The IPPR's report shows that AI is currently influencing 11% of work tasks done by UK workers. This number could potentially rise to almost 60% if firms further embed this technology into their operations.
Part-time, beginner, and behind-the-scenes roles like customer service are particularly vulnerable, although higher-salaried jobs will progressively experience the effects too.
The results from IPPR highlight the difficulties the government is confronting as it relies on AI to tackle the UK's efficiency issues.
In an effort to improve effectiveness with the help of AI, the UK's finance minister has declared a significant investment of £800 million in technology and AI to boost productivity in the public sector.
IPPR's senior economist, Carsten Jung, highlighted the revolutionary impact of AI, calling it a major shift that could affect millions. Nonetheless, Jung cautioned that if government, employers, and labor unions don't take preemptive action, there could be a massive loss of jobs.
The IPPR study underscores the vital part that government regulations play in determining the effect of AI integration on the job market. By simulating different situations, the investigators discovered that right strategies could allow AI to considerably boost the economy without leading to unemployment.
On the flip side, if no measures are taken, the integration of AI could potentially lead to the loss of 8 million jobs in the UK, with no equivalent economic gains.
A different research conducted by LinkedIn indicates that the UK is trailing other nations in AI expertise, emphasizing the immediate necessity for skill enhancement programs.
Janine Chamberlin, the UK's representative for LinkedIn, emphasized the crucial need for investing in skill enhancement to close the disparity between current skills and those needed in the era of Artificial Intelligence.
The IPPR suggests creating a strategic plan for industrial AI to help with job shifts and guarantee a fair share of automation perks throughout the economy. Ideas proposed are financial motivators, regulatory modifications, and backing for eco-friendly jobs that are less likely to be automated.
As AI transforms the employment scene, it's crucial for both businesses and government bodies to take preemptive steps to curb possible adverse effects and capitalize on the advantages brought about by AI-inspired progress.
(Incorporating information from various sources)
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