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Recent reports by ServiceNow have found that artificial intelligence is set to create around 610,000 new jobs by 2028. This will be seen in industries such as telecommunications, media, tech, education, and health care.
The tech industry in particular, will have created 320,000 jobs alone. Education will account for 190,000 jobs, and healthcare 90,000. With these increases, it has been predicted that retail will experience a decline, with a 240,000 decrease in jobs.
How Else Will AI Help The Job Market?
AI is expected to improve workplace efficiency by automating routine tasks, which will possibly be saving the equivalent of 2.88 million full-time jobs. This time saving allows employees, especially in the tech sector like system administrators, to focus on more complex tasks. The report found that AI could save system administrators up to 12.6 hours weekly.
What Are Experts Saying?
When asked on the impact AI has on the job market, and they’ve shared their insights:
Leanne Allen, Head of AI for Advisory, KPMG UK
“While it is important to plan for the impact AI will have on the workforce, data that perpetuates people’s fears that AI will take their jobs will only make it harder to encourage workers to adopt and get the most from this technology.
“We need to talk more about the opportunities and what the jobs of the future will be to best prepare for them. We need to make sure that AI isn’t seen as a remote piece of black box technology competing with or replacing humans – but re-frame it as ‘your new AI colleague’ that can support people and help them achieve their goals. Only this way will we see a significant uptick in the country’s GDP.”
Mark Rodseth, VP of Technology EMEA, CI&T
“AI stands at the forefront of both excitement and apprehension. Despite sensationalist headlines about AI taking over our jobs and our world, it’s crucial to remember AI’s true purpose: augmentation, not replacement. GenAI isn’t here to steal our roles; it’s here to enhance them, offering prompts, suggestions, ideas, and shouldering administrative burdens, liberating us to do more creative and fulfilling work. But to unlock these benefits, we need to know how to harness AI in the right way.”
“It’s apparent that people haven’t discovered, or been given the opportunity to discover, the huge avalanche of materials and tools out there to help them. Bridging this gap demands a concerted effort to educate, empower, and motivate the workforce.
“The most significant impact of AI lies in its capacity to democratise innovation. Traditionally, the realm of AI has been confined to tech giants and research institutions. However, with the proliferation of accessible tools and resources, the barriers to entry are diminishing. This democratisation not only fosters competition but also spurs creativity, as diverse voices and perspectives converge to solve complex challenges.”
Aidan Cramer, Founder and CEO, AiApply goes into detail on AI’s impact, across industries:
“A recent survey by the Department for Science, Innovation and Technology looked at the perceived impact of Artificial Intelligence (AI) and what people in the UK thought the greatest risks from using it were in society today.
“45% of respondents thought the biggest risk in society was that AI would effectively take people’s jobs, as the technology continues to advance. Around 35% also expressed concern that AI will lead to a loss of human creativity and problem-solving skills that we require in everyday life, relying more on technology to make these decisions.
“The survey showcases some of the genuine concerns that people have about the rapid growth and development of AI technology, but should workers be worried?
“I look at some of the biggest employment sectors in the UK, exploring how they’re likely to incorporate AI technology in the future and whether workers should be concerned about their jobs being replaced by artificial intelligence.”
What is AI technology?
Cramer continues, “Artificial intelligence, commonly known as AI, is a technology that learns to solve problems and answer questions in a human-like way. AI has made leaps and bounds in technological advancements over the last few years, with platforms such as ChatGPT and Google’s Gemini becoming widely available to the public.
“Whilst these tools are relatively new to the market, AI technology has been incorporated into our everyday lives for decades, from GPS navigation in our cars, to online chatbots and chatbots and smartphone digital assistants like Siri.”
The job industries using AI technology; is your job at risk?
Cramer looks at the different industries:
Insurance Industry
“The insurance sector is made up of a variety of companies offering risk management in the form of insurance contracts. There are roughly 31,000 people employed in the UK insurance industry, which makes it another big employer.
“UK insurers are already experimenting with generative AI to address practical questions and assess risks. AI technology allows insurers to draw on larger datasets to help improve their processes, from customer support to risk modelling and predictions.
“It could transform claims management too, including prevention, notification, settlements plus fraud detection. Although this does come with potential risks around data protection, the threat of cyber attacks and confidentiality. In February this year, the Association of British Insurers (ABI) launched a new guide to help firms use AI responsibly.
“Is my job at risk? The insurance industry is believed to be among those with the highest potential value from AI. So yes – potentially it could have an impact on your job. Particularly if you work in customer service or have anything to do with claims or fraud.
“AI will make large parts of these jobs more efficient, which could lead to job cuts. Although in other areas it could simply make people more productive, giving them the time to focus on cases and other work rather than simple (boring) tasks. This could actually make the job more enjoyable and rewarding.”
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Supermarkets
“Supermarkets are some of the UK’s biggest employers, with Tesco alone employing over 330,000 people. Tesco already uses AI to help them with their online shopping deliveries, particularly during the pandemic when lockdown conditions meant they had to optimise their delivery routes to ensure more orders were met for customers.
“This was all thanks to AI technology, which helped retrain their delivery route optimisation algorithms and made their delivery service more efficient. The supermarket has also trialled ‘frictionless’ stores in London, a concept that allows customers to walk in, shop and walk out without the need to check out and pay as payment is done through AI technology and app-based payments.
“Is my job at risk? – Unlikely, however, workers could see their roles change over time as technology advances. If the trials in frictionless stores are a success, AI could effectively replace the mundane jobs such as scanning barcodes, checkout and daily stock takes, allowing workers to concentrate on more engaging roles and offer more personalised shopping experiences for customers. In this case, AI could enhance jobs, not replace them completely.”
Healthcare
“The NHS employs around 1.4 million people across the UK, making it the country’s largest employer. Being the main provider of healthcare means that the NHS is continuously looking for ways to improve its service and speed up waiting times to see a doctor.
“Last year, the government set aside £21 million to invest in artificial intelligence in services across the NHS, from AI imaging and decision support tools that are designed to diagnose conditions such as cancer, strokes and heart conditions much quicker.
“Is my job at risk? As AI technology in healthcare advances, we’re certain to see more artificial intelligence being used by doctors to help speed up diagnoses and recovery time for patients. It’s highly unlikely that we will see healthcare professionals being completely replaced, as a human touch will always be required to interact with patients at their time of need.
“We could see time consuming admin tasks such as prescriptions and note taking taken over by AI technology, freeing up more time for doctors to see more patients and reducing long waiting times.”
Customer service call centres
“Call centres play a big part in the employment sector, with over 800,000 people working in the industry across the country. Automation has long been established in the customer service industry, with online chatbots, multilingual support and virtual assistants already in use.
“AI has also provided customer service centres with automated call routing, connecting customers to the best agents that are able to handle their query quickly and more efficiently.
“Is my job at risk? – As chatbots become more intelligent, there is a risk that customer service roles may change for some agents as the need for human interaction becomes less essential. AI technology could take smaller, less urgent tasks away from agents, which frees up more time to take more pressing queries from customers.
“This could also provide opportunities for companies to train their employees to increase the level of customer service they provide, thanks to the reliance on AI technology to look after less urgent issues.”
Manufacturing
“Automation in manufacturing is nothing new, with robotics being introduced to vehicle assembly lines as early as the 1960s. AI can aid the manufacturing process for aspects such as analysing data to predict issues before they happen, helping machinery learn and adapt to optimise the production lines and make products more quickly.
“A study by the Federation of Robotics found that in the automotive industry, the use of robotics saw a 16% increase in productivity between 2010 and 2016. This shows that AI and automation from a manufacturing perspective are definitely here to stay.
“Is my job at risk? The risk is apparent for those working in the manufacturing industry that AI and robots could effectively replace their jobs as they become more intelligent and efficient. However, there will always be a need for humans in manufacturing, particularly when it comes to quality control, problem solving and ensuring that the machines are working effectively.
“Many companies such as Rolls Royce and Bentley continue to rely on humans on the production line, where craftsmanship and expertise are paramount to their finished products, so it’s highly unlikely we will see AI technology dominating the manufacturing industry anytime soon.”
Financial Services
“The financial services industry employs over 1.1million people in the UK, making it another big employer across the country. Banks have been using AI for a while now, from their customer service channels to facial recognition in their online security.
“As banking now relies heavily on apps and online services, AI has played a part in the analysis of consumer spending habits, helping to notify customers of any upcoming bills and allowing them to manage their money more effectively. The move to digital has come at a cost to face-to-face banking, with nearly 5800 branches closing across the UK since 2015.
“Is my job at risk? There is a chance your job could be at risk, particularly if you work in a bank branch. The use of AI and online banking has meant that the need for face-to-face banking has become less important for many customers, leading to multiple closures of local branches.
“If AI can help deal with customer queries effectively, there will be a need for human power in roles such as financial planning, fraud detection and more complex customer issues, opening up potential opportunities for employees to upskill and continue to grow within the banking industry.”
Chris Pedder, Chief Data & AI Officer, Obrizum
“Replacing £1.3 billion funding into artificial intelligence (AI) with a host of projects worth £32 million is a significant setback for the UK’s position as a global AI leader. The billions in investment was already a relatively small amount, in a world where Meta spent an estimated $10 billion to train Llama 3, and OpenAI is burning an estimated $5 billion a year on predictions.
“Positively, a focus on establishing deeper research roots and addressing the UK’s historically low economic productivity through the development of safe, efficient AI models offers a building block. And sector-specific, sustained investments are necessary to support long-term AI research, develop sustainable machine learning methods and foster innovation, be it through transport, construction or healthcare organisations.
“Additionally, establishing student support schemes, bursaries and programmes that enable people to use the current crop of AI models efficiently within the confines of their studies or work will be crucial to upskilling talent. Education will form a vital part of the uptake of these new AI models and should go hand-in-hand with the government’s investment.”