Up to 8 million UK jobs at risk from AI
IPPR (The Institue for Public Policy Research) measured the impact of generative artificial intelligence (AI) on the UK careers market, and estimated 8 million jobs could be at risk.
The 2 stages and potential scenarios
Their report identifies 2 key stages of generative AI adoption: the first wave, which is here and now, and a second wave in which companies will integrate existing AI technologies further and more deeply into their business models.
Worst case scenario – full displacement:
all jobs at risk are replaced by AI, with 7.9 million job losses and no GDP gains
Central scenario: 4.4 million jobs disappear, but with economic gains of 6.3 per cent of GDP (£144bn per year)
Best case scenario – full augmentation:
all jobs at risk are augmented to adapt to AI, instead of replaced, leading to no job losses and an economic boost of 13 per cent to GDP
(£306bn per year)