"Artificial intelligence is likely to displace workers from jobs in a way comparable to the Industrial Revolution, the governor of the Bank of England has warned, as concerns grow over the impact of the technology on entry-level employment and younger workers. Andrew Bailey said the rapid adoption of AI across the economy made it essential that the UK invested in training, education and skills to help workers transition into new roles created by the technology."
"AI has become increasingly embedded in everyday life and business operations, with companies using the technology to process vast volumes of data, identify patterns and automate complex tasks. While the productivity benefits are widely acknowledged, there is growing unease about its impact on hiring, particularly in junior professional roles. Official figures released this week showed the UK unemployment rate rising to 5.1 per cent in the three months to October, with younger workers bearing the brunt."
Rapid AI adoption across the economy risks large-scale worker displacement without significant investment in training, education and skills to enable transitions into new roles. Workers with skills to operate alongside AI will find it easier to secure employment, while younger and less experienced professionals face growing strain on career pipelines. AI is increasingly embedded in business operations to process data, identify patterns and automate complex tasks, producing productivity gains alongside hiring unease in junior roles. Official figures show rising unemployment and a sharp increase in joblessness among 18-to-24-year-olds, while cost and AI considerations are altering entry-level recruitment choices.
Read at Business Matters
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