AI Could Generate 7.2m Jobs by 2030

While many people are concerned about a dystopian future in which employers will replace actual people with robots, a new report insinuates that artificial intelligence (AI) could, in fact, generate as many jobs as it displaces.

The most recent findings from PricewaterhouseCoopers (PwC), a Big Four accountancy firm, argued that approximately 7.2 million jobs could be generated over the next 20 years, a small edge on the 7 million job losses that was also predicted in the same report. The company also estimated that around 20 percent of jobs would become automated over the next 20 years. It also said that no sector would be unaffected.

The chief economist at PwC, John Hawksworth, said: “We have estimated that AI could have a positive effect on GDP by 2030. That extra growth GDP will mean peoples incomes are higher, create demand for goods and services which will require more people to meet those services.”

The firm predicts that the health sector will experience the largest boost from greater developments in artificial intelligence, with an estimated increase of 22 percent in jobs.

Scientific, technical, and professional services, such as accounting, law, advertising, and architecture companies, are predicted to get the second-biggest boost, gaining almost half a million jobs, while education is set to get approximately 200,000 additional jobs.

Hawksworth stated: “Healthcare is likely to see rising employment as it will be increasingly in demand as society becomes richer and the UK population ages. While some jobs may be displaced, many more are likely to be created as real incomes rise and patients still want the ‘human touch’ from doctors, nurses and other health and social care workers.”

Meanwhile, storage and manufacturing and transportation sectors are presumed to suffer the largest decline in employment levels., According to Hawksworth, it will come “as driverless vehicles roll out across the economy and factories and warehouses become increasingly automated.”

PwC said that AI and related technologies including drones, driverless vehicles, and robotics would replace human workers in a number of areas, however, it will also create many additional jobs as productivity and real incomes increase and new and better products were developed.