World Economy

Millions of Londoners Could Lose Jobs to Robots

Millions of Londoners Could Lose Jobs to RobotsMillions of Londoners Could Lose Jobs to Robots

Could a tech revolution mean curtains for working Londoners? A new study claims that 1.3m London workers are at high risk of being replaced by machines–but apparently those in business and finance have nothing to fear (so far).

Financial adviser Deloitte analyzed Office of National Statistics labor force data from the last 14 years and matched changes in employment against a range of different jobs. The study found that occupations at highest risk of automation have seen 800,000 job losses since 2001, CityAm reported.

Jobs that are most likely to become mechanical typically involve routine tasks including personal assistants, bank clerks and typists.

Those occupations with the lowest risk of automation such as care work, teaching and finance are heading in the other direction with the report estimating that these sectors have created 3.5 million jobs since 2001.

Financial workers have the least to fear from a digital revolution, the report suggests.

From 2001 to 2015, there’s been a whopping 842% rise in jobs for business and financial project managers.

And the news gets even better for city workers, as that type of career pays an average of £10,000 ($15,439) more than occupations at a higher risk of being taken over by robots per year.

Angus Knowles-Cutler, vice chairman of Deloitte, said: “Our work shows the automation of jobs–and a shift from brawn to brains–is well underway in every nation and region of the UK. But we appear to be benefitting from this, not losing out.”