According to new research from ServiceNow, the UK labour market could undergo a major transformation with 610,000 new jobs created by 2028 thanks to advances in artificial intelligence.
The research, based on the analysis of data from various labor markets through machine learning, explores the effects of artificial intelligence in different sectors.
ServiceNow reveals the impact of technology on the technology, media and telecommunications sectors, which together will account for approximately 320,000 jobs by 2029.
AI will have a major impact on the UK labour market
In addition, additional functions could be assigned to education (190,000) and healthcare (90,000).
The study also alarmingly shows the negative effects of artificial intelligence on the labour market, where many workers seem to feel threatened by this technology. The retail sector could suffer the loss of 240,000 jobs by 2028, while the manufacturing sector (90,000) and financial services (50,000) would also suffer considerable losses.
Daniel Stirrett, Group Vice President and Managing Director for the UK and Ireland, said: “Like other technologies before it, AI will revolutionise the workforce and, in turn, generate a net positive gain in employment.”
In addition to the creation of new jobs, ServiceNow's report highlights the productivity benefits that existing workers could gain. In the technology sector, the company estimates that the average systems administrator could earn up to 12.6 hours a week.
These emerging technologies will require implementation and maintenance, with the expected creation of 400,000 more jobs. Those wishing to improve their skills in anticipation of the creation of new jobs should consider entering the fields of computer and information systems management and development and data engineering.
Overall, ServiceNow believes the global workforce will mostly grow, with the exception of aging populations such as Germany and Japan. Addressing the perception that AI could be replacing human jobs, the report reveals emerging markets and a shift in workforces, rather than eliminating workers altogether.
