Robots Coming To Steal Half Your Jobs

November 15th, 2015

Awake Goy

Unveiling the Bank’s new statistics, based on the historic trends in the market economy, Andy Haldane warned the Trades Union Congress that half of UK workers might find themselves unemployed in the coming decades.

“Taking the probabilities of automation, and multiplying them by the numbers employed, gives a broad brush estimate of the number of jobs potentially automatable,” Haldane said, stressing that 15 million people might be affected on the island nation that currently has a workforce of 31.21 million.

The same trend, the chief economist warned will also be witnessed in the US, where the current labor force of roughly 160 million Americans will see half of its jobs go to automation.

“For the UK, that would suggest up to 15 million jobs could be at risk of automation. In the US, the corresponding figure would be 80 million jobs,” Haldane said.

At the same time, the economist noted that previous predictions concerning the impact of modernization on the workforce had been proven wrong since the beginning of the industrial revolution. However, citing fears over the growth of “artificial intelligence,” Haldane said that if the Bank’s predictions are correct, the labor market patterns of the past three centuries would “shift to warp speed.”