The solid line in the charts represents the net effect of AI, with the bars showing the displacement... [ ] and income effects. 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.

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.

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.

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.

While many of us fear a dystopian future in which employees will replace us with robots, a new report suggests that artificial intelligence (AI) could in fact create as many jobs as it displaces. Findings from Big Four accountancy firm PwC show that around 7.2m jobs could be created over the next 20 years, a slight edge on the 7m job losses also predicted in the report. John Hawksworth, chief economist at PwC, told City A.M: "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." PwC predicts that the health sector will see the biggest boost from greater developments in AI, with an estimated 22 per cent rise in jobs.

Up to 30% of UK jobs could be impacted by automation by the early 2030s, but a new report from PwC suggests the country's economy could grow by 10% in that time. Discover how improving diversity in your workplace can help to contribute to better business outcomes. You forgot to provide an Email Address. This email address doesn't appear to be valid. This email address is already registered.

City jobs will be lost to automation earlier than those in the wider job market, new research reveals. The first wave of automation arriving in the next two to three years will hit financial and professional services hardest compared to other industries, according to the analysis of more than 200,000 jobs across 26 counties by PwC. As many as 30 per cent of jobs across the economy could be lost to automation by 2030, and between two and three per cent lost during an initial wave beginning in the early 2020s. But for financial services jobs, that's predicted to stand at between six and eight per cent because they are easy to automate with simple algorithms. "When you look at financial services, a lot of jobs are relatively routine jobs such as data analysis. Particularly clerical, which makes up a quarter [of financial jobs], are vulnerable to automation," said PwC chief economist John Hawksworth.

Thirty-eight percent of jobs in the U.S. are at high risk of being replaced by robots and artificial intelligence over the next 15 years, according to a new report by PwC. Meanwhile, only 30% of jobs in the U.K. are similarly endangered. The same level of risk applies to only 21% of positions in Japan. The U.S. and U.K. labor markets are both dominated by services jobs, and roughly the same share of workers are employed in key sectors including finance, transportation, education, manufacturing and food services. But PwC found major differences in the nature of the work done within these sectors that explains why more U.S. jobs are at risk.

Approximately 32 percent of existing UK jobs in financial services and insurance could be automated by robotics and artificial intelligence (AI) over the next 15 years, according to a new study by PricewaterhouseCoopers. And other industries are even more at risk. For example, 56 percent of existing transportation and storage jobs could be at risk from automation by 2030, while 46 percent of current manufacturing jobs could be automated, and 44 percent of wholesale and retail jobs are headed for automation, PwC revealed in its latest UK Economic Outlook report. Conversely, the threat of automation is lower in other sectors such as education (9 percent) and health and social work (17 percent), PwC said. Overall, up to 30 percent of existing UK jobs could be automated by 2030, which is a lower proportion than those at risk in the US (38 percent) and Germany (35 percent), but more than Japan (21 percent), the study added.

Robotics and artificial intelligence could affect almost a third of UK jobs by the 2030s, according to a study. However, the report from accountancy firm PwC also predicted that the nature of some occupations would change rather than disappear. It added that automation could create more wealth and additional jobs elsewhere in the economy. Jobs in manufacturing and retail were among the most at risk from the new technologies, the report said. The study estimated that 30% of existing jobs in the UK were potentially at a high risk of automation, compared with 38% in the US, 35% in Germany and 21% in Japan.