Artificial Intelligence Will Create as Many Jobs as it Takes

Date Entry
July 19, 2018

Many are familiar with the Rise of the Robots and the jobless future they will leave, but is this belief based on sound facts?  Turns out it's not, and in fact robots will keep plenty of humans employed.  The change is just going to be what the humans are employed in.

According to UK consultancy firm PwC, research into the robotic AI future shows that automation will displace 38% of transport jobs, and 30% of manufacturing jobs.  However, other industries will see a different effect, such as healthcare where 12% of jobs will be replaced but 34% will be created.

Turns out, when evened out across the job market AI will create as many jobs as it takes.

According to PwC "Our estimates suggest that AI will not lead to technological unemployment as we project that it will displace around 20% of existing UK jobs by 2037, but create a similar number.  In absolute terms, around 7 million existing jobs are projected to be displaced, but around 7.2 million are projected to be created, giving a net jobs boost of around 0.2 million."

When looking at the numbers as a whole, the future isn't so bleak.  And, with more and more companies relying on robotic automation, there emerges a need for technicians to program, run, maintain, and supply the robots.

Industries that require complex, specialized tasks can breathe easy as well - AI isn't predicted to take over these industries:

  • Education
  • Scientific and technical work
  • Information and communication
  • Accommodation and food services

However, industries that revolve around repetitive, administrative tasks should take note:

  • Finance and insurance
  • Retail
  • Construction
  • Public administration
  • Construction
  • Transport
  • Manufacturing

This article was based on a July 17, 2018 Business Insider article by Shona Ghosh.

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