Artificial intelligence is likely to displace workers from jobs in a way comparable to the Industrial Revolution, the governor of the Bank of England has warned, as concerns grow over the impact of the technology on entry-level employment and younger workers.
Andrew Bailey said the rapid adoption of AI across the economy made it essential that the UK invested in training, education and skills to help workers transition into new roles created by the technology. Without those foundations, he cautioned, the labour market risked becoming more fragmented.
Speaking on BBC Radio 4’s Today programme, Bailey said people seeking work would find it “a lot easier” if they had the skills needed to work alongside AI, but acknowledged mounting worries about the effect on the career pipeline for younger and less experienced professionals.
“We do have to think about what it’s doing to the pipeline of people,” he said. “If it’s people working with AI, I’m not sure it will change the pipeline, but we’re right to keep a close eye on that.”
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