The Chinese government is preparing to build a technology park in Beijing dedicated to research into artificial intelligence, according to the Chinese news agency Xinhua and Reuters. The scale of the development can be gauged by the level of investment – some $2.12 billion (13.8 billion yuan) to build the park, located in west Beijing. The park is also forecast to generate revenues of $7.7 billion (50 billion yuan) a year from the 400 enterprises that are expected to be housed there. Zhongguancun Development Group, the developer of the project, will look to partner with foreign universities and build a “national-level” AI lab in the area, according to the reports.

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The development of the living wage coupled with the growing automation of tasks could create a perfect storm that prices a growing number of people out of the jobs markets, a report from the Institute of Fiscal Studies claims. The authors suggest that one of the unintended consequences of the increase of the rate to £8.50 by 2020 could be that people in low paid work could find themselves in competition for jobs with robots and artificial intelligence. The report concludes that there will be a tipping point at which human labour becomes economically unviable, although it does not predict when that will occur.

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Around a third of all jobs in the UK are vulnerable to the introduction of robots, automation and artificial intelligence and the government must intervene to manage the transition and stop new technology driving up wage inequality, a report from the Institute for Public Policy Research (IPPR) claims. Although the report suggests that the tech will have a generally beneficial impact on the economy, it warns that lower-skilled jobs are far more likely to be phased out over the coming decades, and only higher-skilled workers would generally be able to command higher wages.

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