A.I. Would Create “Winners And Losers” Equally In Job Sector: Report

Share on twitter
Tweet
Share on whatsapp
WhatsApp
Share on facebook
Share
AI in job market
Source: TM Magazine

Billionaires and philanthropist argue from time to time whether Artificial Intelligence would help the society, or, instead, manifest into something horrifying (John Connor might be needed)

A recent report claims that AI would create “winners and losers,” not in the resistance, but in the job sector. The PwC Global Artificial Intelligence Study concluded that Artificial Intelligence would create as many jobs in the UK as it will displace over the next 20 years.

The report also claims the “no human in the loop” approach will ultimately mean few job displacement in the industrial sector. A.I. would take over manufacturing jobs by 25%, transport, and storage by 22% and public administration by 18%

However, AI would also generate new opportunities compensating the displacement by boosting at least 200,000 jobs alone in the UK.

“Major new technologies, from steam engines to computers, displace some existing jobs but also generate large productivity gains,” said John Hawksworth, chief economist at PwC

“This reduces prices and increases real income and spending levels, which in turn creates demand for additional workers.

The report also concluded that China and North America would see the greatest gains from AI, boosting their GDP by 26% and 14% by 2030 respectively.

AI in job sector
Source: BBC

The report predicts that few sectors will see the biggest gain as AI would increase productivity, product quality, and consumption.

  • Retail
  • Financial services
  • Healthcare

We have been seeing some major advancements in the A.I in the recent months. So far, A.I has worked towards helping the human species of this world.

Also Read: Google’s A.I. Can Predict Death Of Patients With 95% Accuracy
Charanjeet Singh

Charanjeet Singh

Charanjeet owns an iPhone but his love for Android customization lives on. If you ever ask him to choose between an iPhone, Pixel or Xiaomi; better if you don't.

New on Fossbytes

Scroll to Top