Artificial Intelligence Threatens To Wipe Out Fifth Of Jobs, Report Claims

13 June, 2019 / Articles

Artificial intelligence will lead to a massive upheaval of jobs over the next five years, with more than a fifth of roles overtaken by computers, a new report claims.

The report, from Harvey Nash and KPMG, paints a bleak picture of the near term havoc artificial intelligence is expected to cause to the jobs market.

The survey of technology leaders said many were being asked by their companies to drive further automation into businesses, potentially leading to jobs becoming redundant.

Most respondents said that at least 10pc of the workforce would be replaced by automated roles within the next five years, but for a third of respondents this number increased to 20pc.

However, the report, based on a survey of more than 4,000 technology leaders controlling around $250bn of technology spend, suggested many of these lost roles would later be replaced by further new types of job driven by the economic growth of artificial intelligence.

“Even for those jobs not replaced by AI, the roles may change because up to one in five of their co-workers will be software,” the report said.

An increasing number of start-ups are making use of so-called “robot workers” such as automated software designed by start-ups like Automation Anywhere, Blue Prism or UiPath. This automation software can replace mundane tasks such as managing sales or complaints. Artificial intelligence is also increasingly being used in everything from document review to managing supply chains for health.

Harvey Nash chief executive Albert Ellis said: “Boards are asking their chief information officers and technology team to prioritize automation of jobs.”

In the UK, the Bank of England has warned that many people will become “technologically unemployed” if they cannot keep up with rapidly advancing technology and increasingly powerful artificial intelligence algorithms.

A separate report from the Brookings Institute in the US estimated that around 70pc of work in one in four jobs could be automated. The report found that roles in packaging and delivery, food preparation and truck driving and delivery were most at risk of mass automation.

The science man and innovator, Fernando Fischmann, founder of Crystal Lagoons, recommends this article.

Telegraph

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