The sharp increase in artificial intelligence (AI) applications in the business sector will not lead to major job losses in the United Kingdom.
This was stated by Bank of England Governor Andrew Bailey in a newspaper interview. A recent union poll showed that more than half of British employees are concerned about the impact of AI on their jobs.
But according to the central bank governor, these concerns are unfounded. He told the Northern Echo newspaper that he is optimistic about the opportunities AI offers for the economy. According to Bailey, AI can lead to a new major cycle of innovation. However, it is important that significant emphasis is placed on training people with AI technology.
Bailey also calls for increased investment in AI so that the British economy can reap greater benefits. The UK economy has a large service sector, where AI could boost productivity, for example, in the financial sector.
