ALMOST two in every five jobs could be carried out by robots within just 15 years, a shock new report has claimed.
Analysis carried out by Price Waterhouse Cooper (PWC) suggests that up to 38 per cent of US jobs could be conducted by automated methods by the 2030s.
The statistics for the UK were 30 per cent of jobs, Germany 35 per cent and Japan 21 per cent.
However, the US Department of the Treasury does not appear to share the view the speed of robots taking over jobs will be so soon.
US Treasury Secretary Steven Mnuchin told Axios Media he was “not worried about the mass displacement of US workers by robots”.
He estimated it could be 100 years at least before that sort of effect is seen.
He said: “It’s not even on our radar screen … 50-100 more years.
“In fact I’m optimistic”
But, billionaire investor Mark Cuban was surprised by Mnuchin’s indifference.
He reacted on Twitter, after retweeting the Axios story, by saying: “Wow.”
PWC’s report said the US and UK have similar economies, but the wider financial services sector in the former was more at risk of automation.
The report said: “The jobs of these US retail financial workers are assessed by our methodology as being significantly more routine, and so more automatable than the average finance sector job in the UK, with its greater weight on international finance and investment banking.”
In the US, PWC said risks of robots replacing manual roles were highest in sectors such as transportation and storage (56 per cent), manufacturing (46 per cent) and wholesale and retail (44 per cent).
Financial and insurance workers in the US focus mainly on the domestic retail market than city of London specialists less at risk from robots, it said.
It added: “Further analysis of the data suggests that the key difference is related to the average education levels of finance professionals being significantly higher in the UK than the US.”
But PWC said robots and AI could even bring new jobs, so the overall impact is unclear.
The report added: “Average pre-tax incomes should rise due to the productivity gains, but these benefits may not be evenly spread across income groups.”
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