AI creates new jobs in over half of UK firms - study
Artificial intelligence has created new jobs in more than half of UK firms, according to a study by British bank Lloyds, even as fears about its impact on employment grow.
A British bank's study reveals that artificial intelligence has generated new jobs in over half of the United Kingdom's firms, despite growing concerns about its impact on employment. Lloyds Bank, the institution behind the research, found that 54% of UK businesses reported AI creating new roles. However, the study does not clarify if other positions were lost simultaneously.
The technology's influence on the job market has raised concerns, particularly among younger workers. An OECD report last month indicated that while AI is not causing a widespread decline in employment across its member countries, it is altering the skills sought by businesses and may make it more challenging for young people to enter the workforce.
Similarly, a United Nations report this month highlighted growing global youth unemployment, with young individuals expressing apprehension about job opportunities being replaced by technology.
According to Lloyds' findings, 58% of the 1,200 businesses surveyed plan to boost their investment in AI over the next year, aiming to upskill their workforce. The technology, according to Amanda Murphy, CEO of Lloyds business and commercial banking, has the potential to be as transformative for businesses as the internet was a generation ago. Overall, 61% of companies surveyed currently utilize AI, and many believe that those who fail to adopt AI will face a competitive disadvantage.
Written by urgent.news from RTE News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
