Is AI coming for your job?

By Thomas Lane2023-05-18T05:00:00

In the fourth part of our series on AI in construction, Thomas Lane asks if AI is a silver bullet to address industry inefficiencies and skills shortages

A recent Deloitte survey of FTSE 100 and 250 chief financial officers found that 75% of them thought UK capital spending on AI would increase significantly over the next five years. The CFOs were split equally over whether this would lead to an increase or decrease in the number of jobs.

By way of an answer, a Goldman Sachs report on the economic impacts of AI, published at the end of March, estimates that tools like GPT-4 could automate 46% of administrative tasks and 44% of those in the legal profession.

The report estimates that the widespread adoption of machine learning could raise UK productivity by 1.5% over 10 years. Encouragingly for site workers, and less so in terms of addressing craft skills shortages, the report suggested that only 6% of tasks carried out by site workers could be automated with machine learning (ML).

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