Robots to replace 30% of UK jobs over next two decades - PwC
Up to 30% of jobs in the UK could be replaced by automation by the 2030s, according to new research, affecting industries such as transportation, manufacturing and retail the most.
Analysis by PricewaterhouseCoopers of the UK’s economic outlook, the accountancy firm predicted a 1.6% growth in Britain’s economy in 2017, with a slowdown to 1.4% as Brexit-related uncertainty takes hold. In the long-term the economy is expected to grow at around 2% per annum once Brexit negotiations been finalised with the EU.
PwC’s analysis found that the advance in the use of robots will pose a particularly high risk to jobs in industries such as transportation and storage (56%), manufacturing (46%) and wholesale and retail (44%).
However, by the early 2030s other major economies such as the US and Germany will have a higher percentage of positions at risk due to automation, with the US on 38%, and Germany at 35%.
PwC felt that while the figure of 30% may seem high, many of those jobs at risk will be replaced by other positions created by the advance of new automation technology.
“In practice, not all of these jobs may actually be automated for a variety of economic, legal and regulatory reasons,” the report stated.
“Furthermore new automation technologies will both create some totally new jobs in the digital technology area and, through productivity gains, generate additional wealth and spending that will support additional jobs of existing kinds, primarily in services sectors that are less easy to automate.”
The research also indicated that consumer spending would increasingly be focused on housing and utilities in the upcoming years, with spending power diminished for the likes of food, clothing, alcohol and tobacco.
“This reflects the impact of a weaker pound in pushing up import prices and squeezing the real spending power of households, as well as expected slower jobs growth.”