Bank chief: AI may displace jobs on a 'historic scale'

ARTIFICIAL intelligence could usurp workers on a scale not seen since the Industrial Revolution, Bank of England governor Andrew Bailey has warned — while productivity gains may take time.

- By Saskia Koopman

Mr Bailey hopes

Mr Bailey said: “As you saw in the Industrial Revolution, now over time, we can now look back and say it didn’t cause mass unemployment, but it did displace people from jobs and this is important. My guess would be that it’s most likely that AI may well have a similar effect.”

He said people with AI-related skills would find it “a lot easier” to secure work.