Artificial Intelligence (AI) is set to create more jobs than it erases over the next two decades according to a new report.
The report, by PricewaterhouseCoopers (PwC), claims that AI will create an estimated 7.2 millions jobs in the UK between 2017 and 2037. It is estimated to replace seven million others.
The multinational professional services network estimated that about 20% of jobs would become automated by 2037 and that all industries would be affected by AI. It also claimed that as a result of AI the healthcare sector would see a net boost in jobs of 22% between 2017. A full table of the predictions can be found below.
John Hawksworth, PwC chief economist, said, “Healthcare is likely to see rising employment as it will be increasingly in demand as society becomes richer and the UK population ages.
“While some jobs may be displaced, many more are likely to be created as real incomes rise and patients still want the ‘human touch’ from doctors, nurses and other health and social care workers.”
Estimated job displacement and creation from AI by industry sector (2017-37)
|Industry sector||% of existing jobs (in 2017)||Number of jobs (000s)|
|Creation||Displacement||Net effect||Creation||Displacement||Net effect|
|Health and social work||34%||-12%||22%||1,481||-526||955|
|Professional, scientific and technical||33%||-18%||16%||1,025||-541||484|
|Information and communication||27%||-18%||8%||388||-267||121|
|Accommodation and food services||22%||-16%||6%||518||-371||147|
|Administrative and support services||23%||-24%||-1%||698||-733||-35|
|Wholesale and retail trade||26%||-28%||-3%||1,276||-1,403||-127|
|Financial and insurance activities||18%||-25%||-7%||209||-286||-77|
|Public administration and defence||4%||-23%||-18%||64||-339||-274|
|Transportation and storage||17%||-38%||-22%||296||-683||-387|