Bank Boss Believes Hype About AI Workers Decimating the Workforce

By Gary Cutlack on at

The head economist at the Bank of England thinks that the robotic and artificially intelligent workforces of the future could indeed obliterate our puny human jobs en masse, although how a robot is ever going to change an alternator on a 2006 Peugeot we don't yet know.

Andy Haldane has totally fallen for the robots-taking-our-jobs hype, which is ironic for a man who's number-crunching position could probably already be performed much better by a vaguely competent algorithm. Haldane thinks the AI and robotics revolution could be an even bigger social disruptor than the original actual industrial revolution, and is warning that huge numbers of humans will need retraining and must learn new skills in order to cope with whatever menial jobs they'll be tasked with once the machines have taken over.

This will create a new problem of "technological unemployment" says the BofE man, although he tempers his claims by suggesting that loads of new, alternative jobs will be created by the AI-driven future economy, but he stops short of saying what these might actually be. Switching machines off an on again every few hours and/or manning helplines seems to be all people will have to do. [BBC]