Over time, artificial intelligence could lead to up to three million job losses in the UK, but that number will be offset by the new jobs created in the sector, a new report says.

Artificial intelligence (AI) could eventually displace between one and three million jobs in the UK, according to a new study.

Researchers from theTony Blair Institute say that they expect unemployment to rise gradually as AI is adopted across the wider economy, with a peak loss of between 60,000 to 275,000 jobs a year.

The report said that the shift in unemployment will “be capped and ultimately offset” as AI creates new demands and changes for workers.

“Our best guess is that AI’s peak impact on unemployment is likely to be in the low hundreds of thousands and that the effect will unwind over time,” the Impact of AI on the Labour Market report says.