AI Will Destroy Millions of Jobs

Investors believe it is “inevitable” that artificial intelligence will destroy millions of jobs and that governments are unprepared for it, a new survey revealed, pointing to the technology’s negative side-effects, DW reported. Artificial intelligence, or the process by which computers or robots perform tasks that need human intelligence, was one of the key themes of this week’s Web Summit in the Portuguese capital, Lisbon. The poll, conducted among 224 venture capitalists attending the conference showed 53% believed AI would destroy millions of jobs and 93% saw governments as unprepared for this. The survey also found that 83% of the investors canvassed expected Britain’s exit from the European Union to damage Europe’s economy and 77% believed it would damage British startups. London is widely seen as the main tech startup hub in Europe, thanks to its large pool of talent and a much bigger pool of funding than in rival centers. Cities like Berlin, Amsterdam and Lisbon are eager to attract more tech startups.