Technological advancements in the future could have a huge impact on people’s livelihoods.
Technological advancements in the future could have a huge impact on people’s livelihoods, according to the Bank of England governor, who has suggested that some 15 million people could be put out of work by automation.
Mark Carney warned that almost half of the workforce in the country could be replaced by robots in the future, with forecasts from the Bank suggesting that the machine age could have a particularly long-lasting impact on people on lower incomes, the Daily Mail reports.
Speaking at Liverpool John Moores University, Mr Carney said: “The fundamental challenge is, alongside its great benefits, every technological revolution mercilessly destroys jobs and livelihoods – and therefore identities – well before the new ones emerge.”
A report from the Bank suggests that the advancement of machines in the workplace could see production, clerical and admin jobs the most at risk. However, it has also predicted that professions like accountancy could be threatened as a whole because computers will be making roles redundant.
Similarly, recent research from Deloitte and Oxford University indicated that by the year 2030, 16 per cent of the workforce in the UK could be automated, the equivalent of 861,000 public sector jobs.
It’s less likely that public sector workers will be affected by automation because there are more roles like education and caring, which make public interaction a necessity, but Deloitte still predicts that automation could see a drop of up to £17 billion in wage costs in just a few years’ time.
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