Dec 31, 2016 09:43 AM EST

UK Might Lose Over 15 Million Jobs By 2020; Automation To Be Blamed

By Conan K.

Society as we know it has been changing a lot with technology. AI devices already started to invade homes. The technology already started lurking in the streets through driver-less cars. Indeed, it is only a matter of time that people’s job would also be taken away by technology.

A recent study published by Mark Lawrence on IPPR suggest that the UK is already at the peak of technology take over. Robots, machines, driver-less cars, virtual devices are expected to dominate the work of low-paid jobs like manufacturing. This development made by technology would then result to Lawrence’s estimated 15 million jobs lost.

Lawrence also stated that technology will form a "new form of economic feudalism," whereby "those who own the robots will reap the rewards, the rest will struggle as human labor becomes less important in the production process." Jobs would deteriorate as soon as more companies thrive for automation processes.

Moreover, Bank of England's governor Mark Carney stated on CBR Online that his insight that 15 million jobs to be lost to automation are really possible. On his "Spectre of Monetarism" speech, he said that the rise of technology had already impacted the past with regards to agriculture and cottage production. He also added that technology also is soon to take mid-class jobs within decades through machines.

Meanwhile, large employment companies like Waltermart, Amazon, Foxconn and US Department of Defense have already started to adapt advanced technology developments. Through flying drones, driver-less cars, cashier-less shops, manpower replaced with robots in manufacturing, jobs will continue to deteriorate in due time. They are the proof that the unemployment matter is already underway. These technologies developed with AI would soon push away the idea of manpower.

The World Economic Forum (WEF) also stated in its report in Business Insider that the countries most likely to be affected by the unemployment issue are Australia, China, France, Germany, India, Italy, Japan, the UK, and the US.

Klaus Schwab, founder of WEF also concluded that people responsible should take action and manage workforce as early as possible to avoid the massive unemployment. He also said that governments should cope up with this upcoming matter.

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