Monday 25 March 2019 11:55 am

AI is coming for you: One in three City of London jobs at risk from automation

More than one in three jobs in the City of London are under threat from automation, a study has found.

The Office for National Statistics identified around 710,000 jobs in the Square Mile which they said were at risk from new automated technology.

However, the figures make the City one of the top four safest places if you’re worried about a robot taking your job, after Camden, Three Rivers and Oxford.

Meanwhile around 39 per cent of jobs in financial services, excluding insurance and pension funding are likely to be automated.

Around the same proportion of legal and accounting jobs are likely to go to the robots, while 34 per cent of head office work, such as management consultancy, is likely to be lost in the future.

However, less than two per cent of these jobs are at a “high risk” of automation, the ONS said.

This puts the industry in a much safer spot than those in the food and beverage service activities, where 43 per cent of jobs are under threat.

Other high-risk areas include retail farming and the accommodation sector, the report found.

They all add to the around 1.5m jobs at high risk of having some of their duties and tasks automated in the future.

These potential job losses are more likely to impact the female workforce, with 70 per cent of high risk jobs being held by women.

Meanwhile, younger people are more likely to be impacted, with those between 35 and 39 being the least likely to face competition from robots.

The overall proportion of jobs at high risk of automation has decreased since the ONS’s last study in 2011, the organisation said.

“The exact reasons for the decrease in the proportion of roles at high risk of automation are unclear, but it is possible that automation of some jobs has already happened. For instance, self-checkouts at supermarkets are now a common sight, reducing the need to have as many employees working at checkouts,” it said.

Job Percentage of roles at risk
Legal secretaries 61.6 per cent
Company secretaries 58.3 per cent
Office supervisors 48.7 per cent
Office managers 47.1 per cent
Sales executives 43.8 per cent
Insurance underwriters 41.9 per cent
Legal associates 38.6 per cent
Financial and accounting technicians 38.3 per cent
Finance and investment analysts/advisers 36.8 per cent
Financial accounts managers 36.5 per cent
Brokers 35.7 per cent
Taxation experts 34.7 per cent
Financial managers and directors 30.1 per cent
Business and related research workers 28.1 per cent
Management consultants and business analysts 27.1 per cent
Chartered/certified accountants 26 per cent
Business and financial project management workers 24.9 per cent
Legal professionals n.e.c. 24.3 per cent
Chief executives/senior officials 23.6 per cent
Actuaries, economists and statisticians 23.2 per cent
Solicitors 22.6 per cent

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