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Beware the third wave

09 February 2018

PwC says a third of British jobs could be impacted over the next 15 years. Economists at the Big 4 firm have identified three waves of automation between now and the mod-2030s: the algorithm wave, the augmentation wave and finally the autonomy wave.
It believes relatively few jobs will be automated in the first wave (from now until early 2020s). However, financial services could prove the exception to the rule here.

When the third wave hits in the mid-2030s the prediction is up to 30% of existing jobs could be impacted, with transport, manufacturing and the retail sectors particularly affected.

The study suggested that more women will initially be effected by the rise of automation,. whereas men are more likely to feed the impact in the third wave.

PwCs chief economist, John Haksworth, said: We dont believe that automation will lead to mass technological unemployment by the 2030s, any more than it has done in the decades since the digital revolution began.

He felt that governments, businesses, trade unions and educational providers will all have a role to play in helping people through the transition.

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