🚀 UK: AI is Cutting Jobs Twice as Fast as the Rest of the World
According to a fresh report from Morgan Stanley, the British labor market is undergoing a brutal transformation. While the world discusses the potential of AI, UK companies have already moved to radical measures.
📊 Key Takeaways:
🔹 Mass Layoffs: British firms have already slashed 8% of jobs due to AI implementation. This rate is double that of other major global economies.
🔹 The Productivity Paradox: AI integration has boosted productivity by 11.5%. However, unlike U.S. firms—where efficiency gains often lead to hiring—UK companies are choosing to downsize instead.
🔹 Youth Under Fire: Youth unemployment in the UK has surged to 13.7%, the highest since 2020. AI is primarily "eating" entry-level positions, stripping graduates of their first career opportunities.
📉 What does this mean for the Crypto Market?
Automation and rising unemployment traditionally spark interest in alternative income streams and decentralized finance (DeFi). When the traditional job market closes its doors, the crypto sector often becomes a "lifeline" for many.
🇬🇧 The UK has long aimed to be a global AI hub, but the price of this leadership for the average worker is proving to be chilling.
Do you think AI will eventually create more jobs, or are we witnessing the beginning of the end for the traditional labor market? 👇
#AI #Economy #Unemployment #UK #TechNews