UK economy could lose $420 billion by 2030 if robots replace human jobs: Study

The U.K. economy could shrink by hundreds of billions of dollars by 2030 because of the impact of artificial intelligence (AI) along with also machine learning, according to a completely new study.

Research by The Economist Intelligence Unit last week illustrated several scenarios detailing the impact of advances in AI on world economies.

In one scenario, human skills were complementary to AI, government investment in training workers increased, along with also all nations This kind of analyzed benefited — albeit some more than others. In another, increased investment toward sharing data along with also advanced computing efficiency led to all countries’ gross domestic product (GDP) rising by at least 1 percent.

although inside the third — along with also only negative — scenario, a lack of any upskilling or data sharing resulted in AI taking the jobs of humans. In This kind of scenario, both Britain along with also Australia’s economies suffered as a result, with the U.K.’s becoming $420 billion smaller along with also Australia’s losing $50 billion. The U.S. along with also Asian economies continued to grow although significantly below expectations, the report said.

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