Artificial intelligence could be the next big revolution to impact society and increase social inequality in the next 20 years, a new report claims.
The increasing ability for intelligent computers to comprehend tasks means that robots could take over a third of our jobs in the next 20 years, the Guardian reports.
The 300-page study carried out by the Bank of America Merrill Lynch also stated that the rise of A.I. could exacerbate social inequality within communities.
In order to emphasise the scale of impact, the study compared the "robot revolution" to the steam and electronic revolution and the influence both advances had on the global economy.
“We are facing a paradigm shift which will change the way we live and work,” the study stated.
“The pace of disruptive technological innovation has gone from linear to parabolic in recent years. Penetration of robots and artificial intelligence has hit every industry sector, and has become an integral part of our daily lives.”
The investment bank's analysis is based on reports published in September, describing how 35 per cent of all UK jobs would be under threat from robots.
However, the bank built on earlier research by stating how intelligent computers could cause "labour polarisation."
According to the Guardian, analysts stated: “One major risk off the back of the take-up of robots and artificial intelligence is the potential for increasing labour polarisation, particularly for low-paying jobs such as service occupations, and a hollowing-out of middle income manual labour jobs.”Suggest a correction