The chief economist for the bank of England has warned that approximately half of the workforce in the UK and the US are likely to lose their jobs to robots.
Andy Haldane said that robots could take over up to 15 million British jobs as technological automation trends spread across all industries and service sectors.
The warning follows a 300-page Bank of America Merrill Lynch report which also said that as artificial intelligence continues to rise, jobs across multiple industries would be wiped out.
RT reports: Unveiling the Bank’s new statistics, based on the historic trends in the market economy, Andy Haldane warned the Trades Union Congress that half of UK workers might find themselves unemployed in the coming decades.
“Taking the probabilities of automation, and multiplying them by the numbers employed, gives a broad brush estimate of the number of jobs potentially automatable,” Haldane said, stressing that 15 million people might be affected on the island nation that currently has a workforce of 31.21 million.
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Time For Truth: (Your News Wire) – Bank Of England Warns That Robots Will Steal Half Of Our Jobs