Warning as artificial intelligence could hit three in five workers by ‘replacing their jobs’

ARTIFICIAL intelligence could hit three in five workers — possibly replacing their jobs.

The warning comes in a new International Monetary Fund report on the future of work.

It warned of lower salaries, cuts in hiring and said “in the most extreme cases, some of these jobs may disappear”.

A separate study from accountants PwC has revealed that Britain’s bosses are at the forefront of the AI revolution, adopting the tech at a much faster rate than their US, Chinese and European rivals,

That could leave British workers facing a bigger impact from AI.

The IMF reckons as businesses start using AI, around two in five jobs across the world will be affected, with the figure climbing to three in five in advanced economies such as the UK.

However it also said half of workers could benefit from its integration.

IMF head Kristalina Georgieva explained: “We are on the brink of a technological revolution that could jump-start productivity, boost global growth and raise incomes around the world.

“Yet it could also replace jobs and deepen inequality.”

The effects will not be felt just by lower-paid workers doing routine jobs, she said.

“Historically, automation and information technology have tended to affect routine tasks, but one of the things that sets AI apart is its ability to impact high-skilled jobs,” said Ms Georgieva.

The IMF also fears that while younger staff will be able to use AI, older ones will struggle to adapt.

Kevin Ellis at PwC UK said AI “presents a ‘move or lose’ moment — implemented with care, it offers huge benefits for efficiency, competitiveness, and ultimately profitability”.