AI may displace 3m jobs but long-term losses relatively modest', says thinktank

The Tony Blair Institute estimates that AI could displace between 1m and 3m private sector jobs in the UK, but many jobs will also be created.

Despite potential job displacement, the TBI expects the ultimate rise in unemployment to be low, suggesting that growth in technology will create new roles.

AI’s impact is expected to peak with job losses in the low hundreds of thousands, presenting an opportunity for increased labour market dynamism.

The report forecasted that the deployment of AI could raise GDP by up to 1% over the next five years, potentially increasing to 6% by 2035.

Read at www.theguardian.com