"The Mayor of London fears that AI could be a weapon of mass destruction on the labour market if the city, government and businesses do not respond swiftly to the tech revolution already sweeping the country. In a speech at the annual London Government Dinner on Thursday night, Sir Sadiq was expected to stress that AI will have huge benefits but that it could also wreak carnage in employment, particularly in London including the City given the high number of office jobs."
"He will sound the alarm that it could lead to a new era of mass unemployment, with young workers first hit. City workers walk across a bridge in London The Mayor was set to say that tectonic movements in our markets, industries and workplaces were already happening and that it feels as though the ground beneath our feet is shifting."
"Unlike earlier waves of automation, that mostly hit manual and factory work, this time the sharpest edge of change will be felt in white-collar jobs. He was set to explain further: Some of our city's biggest sectors, such as finance, professional services and the creative industries, rank among the most likely to be affected. Without proactive action, old roles may disappear faster than new ones are created,"
Artificial intelligence promises significant benefits while posing a severe threat to employment across London. The greatest disruption is expected in white-collar sectors such as finance, professional services and the creative industries. Entry-level roles are likely to disappear first, jeopardising young people’s first career steps and the pipeline of future leaders. Without proactive, coordinated responses from city, government and businesses, old roles may vanish faster than new ones emerge. Labour-market tectonic shifts are already underway, and unemployment in London has risen to close to seven percent amid rising public concern about AI’s job impact.
Read at www.standard.co.uk
Unable to calculate read time
Collection
[
|
...
]