Sir Richard Lambert on the rise of the robots

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Sir Richard Lambert told an audience at Warwick Business School that companies need to take responsibility for the consequences of the rise of the robots. Speaking in the first of the WBS 50th Anniversary Distinguished Lectures held at WBS London at The Shard, Sir Richard outlined the threat to society of the increasing use of automation through machine learning, artificial intelligence and robots. The Bank of England's chief economist Andy Haldane has warned that 15 million jobs in the UK are under threat from mass automation, almost half those employed in the country. The possible destruction of so many jobs has led a number of academics, economists and prominent CEOs, like Tesla's Elon Musk, to predict that governments will have to hand out a universal basic income to citizens. Sir Richard, who was Director General of the Confederation of British Industry (CBI) from 2006 to 2011, believes CEOs must make sure their companies shoulder their share of responsibility, either voluntarily or by force of regulation.


How the UK can become a leader in artificial intelligence

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From the Alan Turing Institute to DeepMind, the UK boasts a rich history and exciting present in machine learning and artificial intelligence research and development, led by academia and industry. According to recent research, AI is the largest commercial opportunity for Britain, projected to add £232 billion to the UK economy by 2030. SMEs and start-ups will play a significant role in grasping this. The segment highlighted by Theresa May during her speech at the World Economic Forum in Davos in January, where she told world leaders that the UK's strong start-up scene will be instrumental in making the UK a world leader in ethical AI. However, start-ups today still need to overcome some significant challenges before reaching their full potential.


World Economic Forum: Time For A Proactive Approach To Reskilling [Report]

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DAVOS, SWITZERLAND – When global leaders and captains of industry gathered in Davos last week for the 2018 World Economic Forum, AI and the economy of tomorrow dominated the discussions. Coupled with the launch of two new reports into the future of work at the summit, it is clear that AI and reskilling are already central considerations for policymakers and businesses alike.


Report From PwC Says AI Won't Kill The Job Market, But Keep It Steady

Forbes - Tech

The solid line in the charts represents the net effect of AI, with the bars showing the displacement and income effects.Graphic via PricewaterhouseCoopers It's impossible to say precisely how artificial intelligence will disrupt the job market, so researchers at PwC have taken a birds eye view from the top down, and pointed to the results of sweeping economic changes. Their prediction, in a new report out Tuesday, is that it'll all balance out in the end. But the rise in robots and machine-learning software will make the country more productive over the next two decades, growing at a 2% annual clip, to put nearly the same number of jobs back in the system: 7.2 million, PwC estimates. To be clear those new jobs won't involve building robots or coding AI-powered software, which will only make up around 5% of employment, says John Hawksworth, PwC's chief economist. Instead around 1.5 million, or 22%, of the new jobs will be in health and social work.


AI Won't Kill The Job Market But Keep It Steady, PwC Report Says

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The solid line in the charts represents the net effect of AI, with the bars showing the displacement and income effects.Graphic via PricewaterhouseCoopers It's impossible to say precisely how artificial intelligence will disrupt the job market, so researchers at PwC have taken a bird's-eye view and pointed to the results of sweeping economic changes. Their prediction, in a new report out Tuesday, is that it will all balance out in the end. More automation in trucks, factories and elsewhere could cost around 7 million existing jobs in the U.K. by 2037. But the rise in robots and machine-learning software will make the country more productive over the next two decades, growing at a 2% annual clip, to put nearly the same number of jobs back in the system: 7.2 million, PwC estimates. To be clear, those new jobs won't involve building robots or coding AI-powered software, which will make up only around 5% of employment, says John Hawksworth, PwC's chief economist.