Watch out America, robots are coming for your jobs: Report finds 38% of US jobs will be automated by 2030
- 4 in 10 US jobs are at high risk of being replaced by robots
- Report suggests 38% of US jobs will be automated by the early 2030s
- Also found that financials service positions are at high risk - 61% will be replaced
- However, some officials 'are not worried' and see it happening in 50-100 years
While millions of people fearing a robot run world, it is Americans who should worry the most.
A new report has found that 38 percent of US jobs will be replaced by robots and artificial intelligence by the early 2030s.
The analysis, by accountancy giant PwC, has also revealed that it is financials service jobs that are at most risk of a robot takeover - 61 percent could be replaced by machines.
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While millions of people fearing a robot run world – it is Americans that should worry the most. A new report has found that 38 percent of US jobs will be replaced by robots and artificial intelligence by the early 2030s
PwC recently published a report that focused on the UK, but also included details of how Americans will fair over the next 15 years.
The research found that more jobs are at risk in the US than compared to other major producing countries around the world – 30 percent of UK jobs, 35 percent in Germany and 21 percent in Japan.
However, some officials are skeptics when it comes to the time line of 2030.
'It's not even on our radar screen ... 50-100 more years,' said U.S. Treasury Secretary Steve Mnuchin to Axios Media.
He added that he was 'not worried at all' about robots displacing humans in the near future.
'In fact I'm optimistic'.
PwC found that the US and UK share similarities in what the future holds, but different sectors will fall victim to machine workers.
'The jobs of these U.S. retail financial workers are assessed by our methodology as being significantly more routine, and so more automatable than the average finance sector job in the UK, with its greater weight on international finance and investment banking,' the report read.
PWC said financial and insurance workers in the US focus mostly on the domestic retail market and have a lower education level than London specialists.
The analysis, by accountancy giant PwC, has also revealed that it is financials service jobs that are at most risk of a robot takeover - 61 percent could be replaced by machines
'Further analysis of the data suggests that the key difference is related to the average education levels of finance professionals being significantly higher in the U.K. than the U.S.,' reads the paper.
Most workers in the UK that are at high risk are in transportation and storage, retail, manufacturing, and administrative and support services, the experts found.
The report said up to 10.4 million jobs – 30 percent of those in the UK – are very likely to be automated by the early 2030s.
Most workers in the UK that are at high risk are in transportation and storage, retail, manufacturing, and administrative and support services, the experts found. The report said up to 10.4 million jobs are very likely to be automated by the early 2030s
The development of driverless cars, lorries and vans means workers in the transportation and storage sector are at particularly high risk.
According to the analysis, around 950,000 of these jobs will be replaced – 56.4 percent of the workforce.
Driverless cars are expected to be on the roads by 2020.
Taxi hailing app Uber is working on building a driverless cab – raising alarm bells among drivers.
The boom in online shopping is also predicted to lead to a dramatic reduction in the number of high street stores and staff.
Some 2.25 million jobs will disappear in retail and wholesale, more than in any other sector, the report found.
John Hawksworth, PwC's chief economist, said many shops could become more like 'showrooms', where customers look at goods before buying them online.
This would lead to more giant warehouses, such as those operated by Amazon.
Instead of humans, machines will increasingly sort and lift goods before they are delivered to customers in driverless vans, the experts predict.
Self-service tills will also become more prevalent.
More than 1.2 million manufacturing jobs are at high risk – or 46.4 percent of the sector.
And almost 1.1 million jobs – 37.4 per cent – are at risk in administration and support services such as IT.
However, the report said those at least risk of being replaced by robots include nannies, teachers, white collar workers in the finance industry, and communications staff.
Education is a key factor – with those possessing only GCSE level qualifications facing a 46 per cent risk of losing their jobs.
This falls to around 12 per cent for workers with undergraduate degrees or higher, the research found.
PwC stressed that the developments are unlikely to cause mass unemployment, as they will boost the economy, aid productivity and support some totally new jobs.
Mr Hawksworth pointed out that employment is at a record high despite huge advances in technology, with numerous jobs in sectors such as manufacturing already done by machines.
He said: 'The experience of the last 250 years is advances in technology do not lead to huge job losses. It does, however, create a huge challenge to adjust.'
The Bank of England said earlier this week that more businesses were using robots to cut costs in the face of rising prices.
Governor Mark Carney has previously warned that as many as 15million workers could be replaced by robots in future.
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