The UK is losing more jobs to AI and at a faster rate than its international peers, according to research by Morgan Stanley.
The US investment bank found that British companies have suffered net job losses of around 8% over the past year as a result of adopting AI.
This is twice the international average and the highest rate among other leading economies including the US, Japan, Germany and Australia.
The firms surveyed represent the five sectors thought to be most affected by AI adoption: consumer staples and retail, real estate, transport, healthcare equipment and automobiles.
The UK firms reported that their AI investment has delivered productivity gains, with half of them seeing boosts of more than 11.5%. By contrast, despite US firms reporting similar productivity gains, AI adoption there led to net job creation rather than cuts.
The report, which was shared with US news outlet Bloomberg, found that while UK employers cut or left unfilled about a quarter of roles due to AI – in line...