Bank of England Chief Economist Warns on AI Jobs Threat
August 22nd, 2018Via: BBC:
The chief economist of the Bank of England has warned that the UK will need a skills revolution to avoid “large swathes” of people becoming “technologically unemployed” as artificial intelligence makes many jobs obsolete.
Andy Haldane said the possible disruption of what is known as the Fourth Industrial Revolution could be “on a much greater scale” than anything felt during the First Industrial Revolution of the Victorian era.
He said that he had seen a widespread “hollowing out” of the jobs market, rising inequality, social tension and many people struggling to make a living.
It was important to learn the “lessons of history”, he argued, and ensure that people were given the training to take advantage of the new jobs that would become available.
He added that in the past a safety net such as new welfare benefits had also been provided.
Mr Haldane’s points were echoed by the new head of the government’s advisory council on artificial intelligence, who also warned there was a “huge risk” of people being left behind as computers and robots changed the world of work.
