AI will create millions more jobs than are lost because of economic growth

AI and related technologies such as robots, drones and autonomous vehicles could provide a net boost to employment in China of around 12% over the next two decades, equating to around 90 million additional jobs.

Around 26% of existing jobs in China could be automated over the next 20 years, but this is projected to be more than offset by job creation of 38%, giving an estimated net gain of 12%.

Services (+29%) and construction (+23%) could see the largest net increases in jobs by 2037 in China, offset by estimated net job losses of around 10% in agriculture.

PwC estimates that the boost from AI and related technologies to economic growth in China could create millions of new jobs, more than offsetting displacement of existing jobs. But the report argues there is no room for complacency given the projected scale of disruption to the labor market from these technologies.

This new analysis for China contrasts with PwC’s earlier research suggesting a broadly neutral net impact of AI and related technologies on jobs in the UK. In that analysis, PwC found that these technologies could displace around 20% of existing UK jobs by 2037, but could create a similar number of additional jobs by boosting economic growth. Based on previous research, PwC judges that results for the UK are likely to be broadly similar to the average across OECD countries.

Most of the new jobs created will have nothing directly to do with AI or robots, but will simply be the product of a richer society with consequent increased demand for goods and services of all kinds.

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