AI and fourth industrial revolution tech threaten 10 percent of jobs | UK | News


Mr Carney, 53, said emerging technologies which are sweeping the world could destroy 10 percent of British jobs, equating to 3.2 million roles according to official figures.

Speaking to the Central Bank of Ireland, Mr Carney said: “Every technological revolution mercilessly destroys jobs and livelihoods – and therefore identities – well before the new ones emerge.

“In the interim, if it is similar to previous industrial revolutions, it seems likely there will be a period of technological unemployment, dislocation and rising inequality.

“The share of jobs at high risk of automation (is) some 10 per cent in the UK and 15 per cent in Ireland.”

AI has the potential to automate mundane or repetitive tasks, allowing workers to focus on more interesting and high-value duties but also putting countless jobs at risk.

Gartner, a world leading research company, predicts that by 2020 AI chat-bots will be handling at least 85% of all customer service interactions.

Even supposedly high-skilled jobs are no longer safe.

Research carried out at Moorfields Eye Hospital has found that AI is able to identify 50 common eye problems on a par with, or even slightly better than human eye experts.

Despite concerns, many leading commentators say the benefits of fourth industrial revolution tech will outweigh the short-term disruption.

Mr Carney was adamant that technological change will ultimately be good for world economies, but he said people with skills sets which will become redundant could suffer.

He said: “We are on the cusp of a fourth industrial revolution, which has the potential to transform fundamentally the nature of both work and commerce through advances in artificial intelligence, automation and interconnectedness.

“The nature of commerce is changing. Sales are increasingly taking place online and over platforms, rather than on the High Street.

“We are entering an age where anyone will be able to produce anything anywhere through 3D printing, where anyone can broadcast their performance globally via YouTube.”

The Governor was optimistic that humans could still find meaningful work alongside robots by doing jobs that require “heart”.

He said creative roles and those requiring personal skills would be good examples, as well as carers to look after the UK’s ageing population.



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