PwC: AI to create more jobs than it displaces

A new report from professional services giant PricewaterhouseCoopers (PwC) has predicted that AI and robotics will create more jobs than it will remove from the global market, helping to steady the job market rather than being of detriment.

The report forecasts that these technologies will create more than 7.2mn jobs in the UK healthcare, education and science sectors by 2037.

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“The power of artificial intelligence is already reshaping industries, business models and liberating employees,” said Melissa Di Donato, Chief Operating Officer and Global Head of ERP Cloud Solutions at SAP.

“However, as has been outlined in today’s report AI will create far more jobs than it displaces, and where there is displacement this will be of mundane tasks, removing the duller, less palatable tasks and freeing up employees to be more creative.”

Jobs within the UK healthcare and social sector are set to see the biggest gains, with employment set to increase by as much as 1mn within the next 20 years, equating to a further 20% increase on the current market.

Meanwhile, manufacturing is set to see the biggest losses, with job losses projected to be as high as 700,000 by 2037.

“The value of AI is in its power to help us understand information and make decisions in a fraction of the time it took before, bringing significant productivity benefits,” Di Donato said.

“As this intelligent technology enters our hospital wards, drives our cars and manages our supply chains, it is fundamental that we develop and apply ethical values. To deliver benefits for all, AI must be implemented across society and into business with the human impact front and centre.”