Artificial Intelligence Could Create 7.2 Million Jobs, More Than It Destroys

Artificial Intelligence or simply we can say AI, is the computer-controlled robot which performs tasks commonly associated with intelligent beings. They are the robots which can perform hell complex mathematics, for them, it doesn’t matter if the number is 10 digits or of thousand.

Even though we have created them, but they have ultra intelligence in many different fields. They can fight in the war field and can also perform surgery in a hospital. Those days are not far when they will start replacing the humans, and also start ruling on us.

Haha, actually it isn’t true. Many of us think that Artificial Intelligence will eat many humans jobs and there are some people who also think they will one day rule on us. But in reality, all these things aren’t true. Artificial intelligence will generate as many jobs as they displace over the next 20 years.

According to the latest report by UK Economic PwC — through Artificial Intelligence there will be around 7.2million jobs get created in all the sector. PwC said as AI will play a more influential role in business and society. PwC estimated that about 20 percent of jobs would become automated by 2037.

According to PwC, the impact will be largely neutral. The impact of new technologies won’t be felt evenly across all industries.

PwC predicts that the biggest beneficiary of Artificial Intelligence will be the healthcare sector. It will create an estimated 1.5 million jobs, in return 526,000 workers which will get replaced by Artificial Intelligence(AI).

This corresponds to a 22% net increase of nearly a million new jobs. It is also expected that there will be six percent of net jobs increase in the education sector. The professional, scientific and technical sector is predicted to see a net job increase of 16 percent.

If we look at another major field which is going to face losses in jobs, then the manufacturing sector is predicted to lose 25% due to the workforce to AI, but don’t get worried, equivalent to this nearly 700,000 new jobs will get created.

The transport and storage industry told a similar story, with PwC predicting a net loss of nearly 400,000 jobs, while the government and defense sector will cut 274,000 roles.

Technologies such as robotics, drones and driverless vehicles would replace human workers in such areas, but in addition to that it will also create many additional jobs as productivity and real incomes rise and new and better products are developed.

Fuan Cameron, UK AI leader at PwC, said:

“Artificial Intelligence offers a huge potential economic boost to the UK and it’s great to see the government recognize and support the development of the sector through the AI Sector Deal.

People are understandably worried about the impact of AI on jobs, and businesses and the government need to address these concerns head-on. Our research highlights where the biggest impacts will be and which areas are most vulnerable so that businesses and government can plan how best to help people develop the skills that will prepare them for the future.

It’s likely that the fourth industrial revolution will favor those with strong digital skills, as well as capabilities like creativity and teamwork which machines find it harder to replicate.

Historically, rapid technological change has often been associated with increases in wealth and income inequality, so it’s vital that government and business work together to make sure everyone benefits from the positive benefits that AI can bring. These include increased productivity and consumer choice, as well as improved outcomes in those areas that matter most to people such as education to healthcare.”

PwC’s research almost mirrors Gartner’s AI and the Future of Work report from earlier in the year that predicted AI will create 2.3 million jobs and eliminate 1.8 million by 2020, with a varied impact across industries.

In order to take the benefits of this upcoming future and to adjust the population as per the needs of the future economy. PwC recommends the government to invests more in Technology, Science, Engineering, and Mathematics education so to ensure the workforce is prepared.