"Bumpy changes to society caused by the introduction of the technology would mean there would have to be some sort of concessionary arrangement with jobs that go immediately, Lord Stockwood said. The Labour peer told the Financial Times: Undoubtedly we're going to have to think really carefully about how we soft-land those industries that go away, so some sort of [universal basic income], some sort of lifelong mechanism as well so people can retrain."
"His remarks comes as fears continue to grow about the impact of artificial intelligence on Britain's job market. This week research by the investment bank Morgan Stanley found the UK was losing more jobs than it is creating because of AI and was being hit harder than other large economies. This month the mayor of London, Sadiq Khan, warned AI could destroy swathes of jobs in the capital and usher in a new era of mass unemployment."
The UK could introduce a universal basic income to protect workers in industries disrupted by artificial intelligence, according to Investment Minister Jason Stockwood. Bumpy societal changes from AI would require concessionary arrangements for jobs that disappear immediately, combined with lifelong mechanisms to enable retraining. Government figures and city leaders express concern as research from Morgan Stanley finds the UK is losing more jobs than it creates because of AI, and London’s mayor warns of mass unemployment risk. Business leaders warn governments and firms must help displaced workers or risk social unrest. Stockwood joined government to help prepare the workforce for rapid change.
Read at www.theguardian.com
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