Could AI be accelerating slowdown in the UK job market?
by Richard Partington Senior economics correspondent from on (#6YM1Z)
Country's economic woes remain main determinant to work opportunities but technological change is also creeping in
Ask ChatGPT whether artificial intelligence is contributing to Britain's cooling jobs market and the chatbot acknowledges its own role - but adds a caveat: Yes, AI is contributing to job losses in the UK, but its impact is nuanced and varies by industry, skill level, and job function."
There are concerns that AI could be one culprit behind the slowdown, as the ascendant technology destroys workers' jobs.
Rising employment costs and higher taxes.
Monetary tightening and high interest rates.
Broader economic slowdown.
Weaker hiring demand.
The labour market adjusting to a new normal".
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