The World Economic Forum has issued a report stating that over the next decade AI could create nearly double the number of jobs that it will destroy.
Companies expect a significant shift on the frontier between humans and machines when it comes to existing work tasks between 2018 and 2022.
Simultaneously, rapid changes in machines and algorithms, or computer processes that are designed to solve problems, "could create 133 million new roles in place of 75 million that will be displaced between now and 2022", the group forecast.
Respondents predicted a decline of 984,000 jobs and a gain of 1.74 million jobs between now and 2022.
In terms of labour division, 2025 is set to be the year machines tip the scales. Most workplace tasks have an element of repetitiveness in them which automation systems, in conjunction with agile robotics will be able to perform. Humans will account for the remaining 58% of the work, down from the current task hours of 71%, wrote the WEF.More news: Stunning late goal gives Liverpool dramatic Champions League victory over PSG
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Recent reports have highlighted the impact AI could have on jobs, suggesting millions are at risk.
A McKinsey report in December produced one of the rosier assessments, forecasting jobs lost and created by new technology might be about equal by 2030. "Without proactive approaches, businesses and workers may lose out on the economic potential of the Fourth Industrial Revolution", said Saadia Zahidi, head of the Centre for New Economy and Society at the WEF. These transformations, could either lead to a new age of good work, good jobs and improved quality of life for all; or pose the risk of widening skills gaps, greater inequality and broader polarization.
Mr Haldane said companies would have to expand in innovative ways to create new human jobs, but whether they will manage to is an "open question".
It said advances in computing would free up workers for new tasks. The end result will give employees more time to do what makes them uniquely human - complex problem solving, critical thinking, and creativity'. Meanwhile, technology enthusiasts among us needn't despair; the amelioration of worldwide computing will see the industry snowball as it requires more specialist workers to deal with data, software and social media.