AI will create as many jobs as it displaces by boosting economic growth

Artificial Intelligence (AI) and related technologies are projected to create as many jobs as they displace in the UK over the next 20 years, according to new analysis by PwC. In absolute terms, around 7 million existing jobs could be displaced, but around 7.2 million could be created, giving the UK a small net jobs boost of around 0.2 million. While the overall net effect of AI on UK jobs may be broadly neutral, this varies significantly across industry sectors. The most positive effect of AI is seen in the health and social work sector, where PwC estimates that employment could increase by nearly 1 million, equivalent to around 20% of existing jobs in the sector. On the other hand, PwC estimates the number of jobs in the manufacturing sector could be reduced by around 25%, representing a net loss of nearly 700,000 jobs.