“Bumpy” changes to society caused by the introduction of the technology would mean there would have to be “some sort of concessionary arrangement with jobs that go immediately”, Lord Stockwood said.
The Labour peer told the Financial Times: “Undoubtedly we’re going to have to think really carefully about how we soft-land those industries that go away, so some sort of [universal basic income], some sort of lifelong mechanism as well so people can retrain.”
A universal basic income is not part of official government policy, but when asked whether people in government were considering the need for UBI, Stockwood told the FT: “People are definitely talking about it.”
The technology entrepreneur, who took up his ministerial post in September, said part of his motivation for joining the government was to help ensure the workforce was prepared for rapid change.
Fears continue to grow about the impact of artificial intelligence on Britain’s job market. This week research by the investment bank Morgan Stanley found the UK was losing more jobs than it is creating because of AI and was being hit harder than other large economies....<<<Read More >>>...
