Artificial Intelligence (AI) could replace half of China’s jobs in the not too distant future, according to a study by Oxford Economics. The report argues that widespread adoption of automation and AI could displace up to 85 million jobs in China, particularly in industries like manufacturing and construction. It also suggests that the shift could exacerbate economic inequality, as it is likely to affect low-skilled and rural workers the most.
Furthermore, the study notes that China’s one-child policy and ageing population could intensify the impact of AI on its economy, as it struggles to maintain its current level of working-age population. While other countries like Japan, the US, and South Korea are at similar risks for AI-related job displacement, China is particularly vulnerable because of its ongoing economic growth and reliance on manufacturing.
The advancement of AI is not just a concern for China; it is a worldwide phenomenon, and experts predict that this technology will have a profound impact on the global labour market as it advances further. As AI continues to replace manual labour in many sectors, it will require people to upskill and specialise, particularly in areas that machines cannot replace, like creative and social intelligence. Governments, educators, and employers should invest in re-skilling and up-skilling workers to bridge the skills gap and ensure that they can thrive in a future where machines will play an ever-increasing role.
In summary, AI’s growth and adoption could replace up to 85 million jobs in China, particularly in manufacturing and construction, exacerbating existing economic inequalities. Policymakers, educators and employers have a responsibility to ensure that workers are equipped with the skills needed for the coming age of artificial intelligence. This report could serve as a wake-up call to businesses to revamp their strategies, to ensure the future of the country will not be hindered.
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