Exclusive: Artificial intelligence could lead to “cracks in the very foundations” of Britain’s economy by costing jobs and overwhelming the welfare system, a former minister has warned Darren Jones, who served as chief secretary to Sir Keir Starmer, said that there may not be “enough jobs to go round” if the government failed to “get ahead of the curve” on AI He argued that while AI could improve productivity and result in higher wages or a four-day week, it could also drive unemployment by replacing jobs Writing in The Times, he said that this could ultimately lead to fewer people in work, a bigger welfare state and lower tax revenues to fund public spending Jones argued that the government must ask the “bigger questions”, saying: “If the pace of AI development is maintained, and businesses integrate it effectively, we could see cracks in the very foundations of the UK economy. “If, for example, there is a significant drop in demand for human workers and we have fewer people in work paying tax, how will we respond? The welfare system will not be able to support middle-class workers with good salaries and expensive mortgages if they find themselves out of work. So, what is the answer? What is our offer to young people if there simply are not enough jobs to go round? 'This potential drop in the tax take, and potential increase in economic inactivity and the welfare budget, would clearly be a disaster given the fiscal tightrope the government is having to walk. So, is the social contract fit for the future? If not, what should it look like? What should the Office for Budget Responsibility say about this in its ten-year economic forecast?' thetimes.com/uk/politics/art…