Faethm AI today released key findings from the UK Labor Prediction 2021. This reveals the potential impact of technology on the UK workforce. A future study of Faethm, a work platform based on modeling and ONS data, could automate the equivalent of 1.4 million full-time roles in the UK next year, and the work currently being done nationwide. 4.8% of the time can be disproportionately affected by different industries and regions.
The study found that recessionary pressures combined with the unique challenges of COVID-19 accelerate the implementation of automation technology in the workplace, resulting in the situation in the UK employment market and the employment faced by both businesses and governments. It outlines challenges and opportunities.These technologies can have a significant impact on employment levels (currently) 5.1%), And the employability of UK workers themselves since 2021.
The risk of redundant skills and most of the existing duties is a potential by-product of technological change. Faethm data show that many of UK workers’ major jobs may disappear in the future, and corporate and government interventions to retain, retrain and relocate employees raise employment levels. It shows that it is important to maintain or improve and increase productivity. The forecast suggests that the wholesale, retail and financial services sectors are at greatest risk of automation. Together, these sectors consist of nearly 5 million British workers, with more than 9% of work (equivalent to 932,000 full-time roles) potentially automated for both.
The data also highlights some geographical disparities in the potential impact of automation. Adjusting for population differences, the regions with the highest percentage of work that could be automated include Wales (5.3%), Northern Ireland (5.2%), North West England (5.1%), and the United Kingdom. , The introduction of new technology can be disproportionately affected.
However, technology does not have to be a threat to your job. According to Faethm’s analysis, technology can enhance rather than replace human work, and automation is not fun, especially while allowing workers to use more of the wealth of human skills that machines cannot reproduce. You have the opportunity to replace your day-to-day tasks. As the country remodels its economy following a pandemic.
The modeling suggested that 2.9% of the work in the UK could be scaled using technologies already available in 2021. When applied correctly, this results in a 1.3% capacity increase across the economy. In other words, the work time is reduced by 1.3%. It will be completed. The IT and media sectors are the most profitable, with 6.5% of work potentially augmented and capacity increased by 3%. As one of the country’s largest employers, the education sector will also benefit significantly. You can automate 5% (equivalent to a full-time role of 131,300 people) and achieve a capacity increase of 1.9%.
Nan Craig, a data analyst at Faethm, commented on the findings, reflecting: However, the new conditions created by Covid-19, and the need to reduce human interactions in public places, make automation more attractive than a normal recession. Face-to-face human labor is becoming more expensive due to safety considerations regarding space, PPE, and the ability to take vacations for self-isolation, but mechanical and automated systems are infectious in comparison. Can be added without increasing risk. Relatively low cost. Long-term changes in consumer behavior can also make a difference as more interactions move online. This means that companies are more likely to consider automation than they would be without the Covid-19 crisis. “
Some jobs can change, decline, or become uncommon as automation technology begins to replace certain tasks, but Faethm’s analysis shows that as the UK begins to embrace automation and augmentation, many We anticipate that roles will emerge and increase. We predict that technology-related roles could require an additional 382,800 full-time equivalent roles if the UK workforce offers full potential automation opportunities.
James McLeod, EMEAVP of Faethm, adds: The future of work is already here, and the introduction of technology will not affect the work uniformly. A targeted re-skilling approach that recognizes where it complements existing work, recognizes the new role that technology is creating, and ensures that human and mechanical work complement each other. You need to invest. By doing so, companies not only increase capacity and increase productivity, but also take care of their employees, make economically beneficial and morally responsible decisions, and digitally for the future. You can create a skilled workforce. “
Faethm modeling works at the level of individual jobs divided into tasks. Use a framework of over 5,000 jobs, divided into over 24,000 tasks, to model the impact of 16 different types of technology on the tasks that employees are required to perform as part of their duties. Then aggregate these results with all the tasks associated with a particular job to evaluate how the role of each job changes.
This methodology used census and workforce data edited by the Office for National Statistics (ONS) in 2020 to give a complete picture of the role of the UK as a whole in 2020. By applying Faethm’s modeling to this data, we were able to predict which roles and industries would change. Affected by technology. These forecasts also take into account the differences in technology and job relationships between industries. For example, IT companies are more likely to adopt new technologies more quickly, so project managers working in IT companies are more likely to automate some of their roles next year than project managers working in construction.
About Faethm AI
Faethm.ai is a global data source for navigating the evolution of work through the SaaSAI platform, which enables businesses and governments to create value from the impact of new technologies. Founded in Sydney in April 2016, Faethm currently serves more than 100 customers in 21 industries and 25 countries around the world.
Faethm, the world leader in work evolution, is 16 years oldth First in Australia and second in Asia invited to four centers of the World Economic Forumth Industrial Revolution. That data is used by organizations, including MIT Tech Review, to predict and prepare for the future impact of technology on their work. Recent awards include the AI Tech Rocketship Award and the Skills Bridge Award from the UK Government’s Department for International Trade. From the “Best New Tech Platform” from the Luxembourg Government and from the Australian Computer Association.
Automation could replace the equivalent of 1.4 million UK jobs in 2021
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