The UK’s biggest employees are calling for a commission to be setup to look at the impact of artificial intelligence on jobs.
According to a recent survey, 1 in 5 jobs across Britain could be threatened by the AI revolution.
The CBI is now urging Theresa May to launch a commission within the next year. It said trade unions and businesses should be involved in the commission, with a view to the new working group setting out new ways to increase economic growth and productivity as well as looking into the impact of AI.
The CBI said that almost half of its members were planning on devoting resource to AI, while one in five had already invested in the technology in the last year.
Companies both in the UK and abroad are increasingly using machine learning techniques in order to reduce inefficiencies. They are also using AI to reduce headcount, which PwC suggests could result in over 10m workers being at risk of having their jobs automated by machines.
Whilst robots could lead to mass job losses, it also presents opportunities for employees to move into more productive and fulfilling roles. The TUC has asked the government to use the productivity gains from automation to benefit workers – even going as far as to ask for the planned increase in state pension age to be reversed.
The CBI has said that as much as 50% of labour productivity can be driven by innovation and businesses that adopt new AI technology grow twice as quick compared to those that don’t. Investment in technology could help bolster Britain’s sluggish labour productivity, which is among the worst in the G7 and is failing to improve in line with expectations since the financial crisis.