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PwC: AI could create 38m new jobs worldwide

Apr 29
Tags: PwC
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Harnessing the power of artificial intelligence (AI) in just four sectors could lead to the creation of 38.2 million new jobs across the globe, according to new research from PwC. 

The report - commissioned by Microsoft - looked into the potential opportunities of AI for economic growth and emissions reduction between now and 2030. 

The research modelled scenarios for four sectors: agriculture, transport, energy, and water.

It was estimated that using environmental applications of AI in these four key sectors could contribute $3.2 trillion (£2.5 trillion) to the global economy in 2030 - a 4.4 per cent increase on how GDP would otherwise look. 

The number of occupations demanding technology skills would inevitably rise as a result, creating an estimated 38.2 million net new jobs globally. 

Celine Herweijer, Global Innovation & Sustainability Leader, PwC UK, commented: “Put simply, AI can enable our future systems to be more productive for the economy and for nature.

“The research shows the potential of emerging technology to directly support decoupling economic growth from greenhouse gas emissions in the near and long term.”

However - as has long been predicted - AI could also lead to some job losses in specific sectors. 

PwC forecast that 42 per cent of UK wholesale and retail jobs would be at a high risk of being cut by 2030, with human workers replaced by AI solutions.

Furthermore, 45 per cent of manufacturing jobs are at risk of automation, and for machine operators and assemblers, the risk could be more than 60% by the 2030s. In contrast, there’s just a ten per cent risk of automation by 2030 for professionals, senior managers, and senior officials, according to the report. 

The research predicted that men face a higher automation risk than women, at 34 per cent compared to 26 per cent. This is because men are more likely than women to be work in manual-task-focused sectors like manufacturing and transportation and storage.

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