AI and robotics could replace so many jobs that the era of mass employment could come to an end

If you wanted relief from stories about tyre factories and steel plants closing, you could try relaxing with a new 300-page report from Bank of America Merrill Lynch which looks at the likely effects of a robot revolution.

But you might not end up reassured. Though it promises robot carers for an ageing population, it also forecasts huge numbers of jobs being wiped out: up to 35% of all workers in the UK and 47% of those in the US, including white-collar jobs, seeing their livelihoods taken away by machines.

Haven’t we heard all this before, though? From the luddites of the 19th century to print unions protesting in the 1980s about computers, there have always been people fearful about the march of mechanisation. And yet we keep on creating new job categories.

However, there are still concerns that the combination of artificial intelligence (AI) – which is able to make logical inferences about its surroundings and experience – married to ever-improving robotics, will wipe away entire swaths of work and radically reshape society.