AI leaving UK citizens jobless
An analysis of the possible effects of AI on the UK labor market may be found in a paper published by the Institute for Public Policy Research (IPPR). The report issues a dire warning of an impending "job apocalypse" that may destroy over eight million careers nationwide if quick government action is not taken.
Two crucial phases of generative AI adoption are identified in the paper. Eleven percent of the jobs completed by UK workers are exposed in the first wave, which is now in progress. The most vulnerable jobs are organizational ones like scheduling and routine cognitive ones like database administration.
But in a possible second wave, AI would be able to do an astounding 59% of activities, which would affect higher-paying occupations as well as non-routine cognitive skills like database creation.
Senior Research Fellow at IPPR Bhargav Srinivasa Desikan stated: "We could see jobs like copywriters, graphic designers, and personal assistants being heavily affected by AI." How can we manage technology advancement to provide new employment possibilities, boost productivity, and benefit the economy as a whole?
"Our responsibility is to ensure that the labor market of the twenty-first century does not leave millions of people behind. To that end, regulators must provide a roadmap.
. A moment of sliding doors is happening right now. It is a must that technology harms no workers, not just those involved in IT.
Regarding the effects of the second wave, IPPR considered three scenarios:
Worst scenario: 0% GDP growth and the loss of 7.9 million jobs
Central case: GDP grows by 6.3% annually, but 4.4 million jobs are destroyed. (£144 billion/year)
Best case scenario: No jobs lost and an annual GDP increase of 12% (or £306 billion) from adding at-risk positions.
IPPR urges a "job-centric" AI policy with financial incentives, regulations guaranteeing human oversight, and support for green jobs less susceptible to automation, warning that the worst-case scenario of displacement is feasible in the absence of government involvement.
The report emphasizes how particular categories are disproportionately affected by job relocation, with women and young people suffering the most. These groups work mostly in entry-level positions, which are particularly vulnerable to AI's invasion of occupations like customer service and secretarial work.
Carsten Jung, Senior Economist at IPPR, said,"Technology can be a blessing if skillfully operated, or can be a nightmare if allowed unchecked."
Indeed, generative AI may pose a serious threat to a number of professions, starting with back office positions.
Government, businesses, and labor unions, however, now have the opportunity to make critical design decisions that ensure we use this new technology responsibly. Therefore, the demise of the labor market and technology are not inevitable.
It could be too late if they don't take action quickly.
AI Catalog's chief editor
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