Site icon PressReleaseCloud.io

Khan Warns of AI-Driven Job Crisis

Press Release

Key Takeaways

Introduction to the AI Threat
Sir Sadiq Khan, the London mayor, will warn that artificial intelligence poses a significant threat to the job market in London, with the potential to bring about "a new era of mass unemployment" unless ministers take action. In his annual Mansion House speech, Khan will emphasize that London is "at the sharpest edge of change" due to its heavy reliance on white-collar work, finance, professional services, and the creative industries. As he will say, the technology carries huge potential benefits, which could "transform our public services, turbocharge productivity and tackle some of our most complex challenges". However, the impact on the labour market will be "nothing short of colossal" unless it is actively managed.

The Impact of AI on Jobs
The warning comes as polling for City Hall showed that half of London’s workforce expects AI to have an impact on their jobs in some way within the next 12 months. According to Khan, existing roles will disappear faster than new ones are created, with entry-level jobs being the first to go. As Andrew Bailey, the governor of the Bank of England, previously noted, "If it [AI] results in a thinning out of entry-level jobs, where people learn a trade, but we still need people to rise up, we do have to think about what it is doing to the pipeline of people." This highlights the need for urgent action to address the potential consequences of AI on the job market.

The Need for Government Action
Khan will emphasize that ministers face a choice: "seize the potential of AI and use it as a superpower for positive transformation and creation, or surrender to it and sit back and watch as it becomes a weapon of mass destruction of jobs". The creation of a London task force on AI and the future of work is a step in the right direction, as it will assess how technological change is likely to reshape the capital’s jobs market. Additionally, City Hall will begin offering free AI training for Londoners, which will help them adapt to the changing job market. As Khan will say, the impact of AI on the labour market will be "nothing short of colossal" unless it is actively managed.

The Reality of AI Replacement
The reality of AI replacement is already being felt, with companies such as Klarna, BT, and Salesforce replacing roles with AI. A recent report by the National Foundation for Educational Research estimated that about 3 million low-skilled jobs could be automated by 2035. This highlights the need for urgent action to address the potential consequences of AI on the job market. As Bailey noted, the acceleration of AI could have a similar effect to that of the Industrial Revolution, which "didn’t cause mass unemployment but it did displace people from jobs". It is essential to consider the potential consequences of AI on the job market and take proactive steps to mitigate its impact.

Conclusion
In conclusion, the threat of AI to the job market in London is real, and urgent action is needed to address its potential consequences. The creation of a London task force on AI and the future of work and the offer of free AI training for Londoners are steps in the right direction. However, more needs to be done to ensure that the benefits of AI are shared by all, and that its negative consequences are mitigated. As Khan will emphasize, the impact of AI on the labour market will be "nothing short of colossal" unless it is actively managed. It is essential to seize the potential of AI and use it as a superpower for positive transformation and creation, rather than surrendering to it and watching as it becomes a weapon of mass destruction of jobs.

https://www.thetimes.com/uk/politics/article/sadiq-khan-mayor-london-ai-artificial-intelligence-03zprr8fz

Exit mobile version