Governments are failing to prepare for the impact of artificial intelligence – which is set to destroy millions of jobs, according to a poll of the world’s top technology investors.

A survey of investors at Venture, the premier VC event taking place during Web Summit in Lisbon, found that 53% agreed that it was “inevitable that Artificial Intelligence will destroy millions of jobs”.

The vast majority of investors (93%) said governments were not prepared for the impact of AI on jobs.

Venture, Web Summit’s premier conference for VCs, was opened by the Portuguese Prime Minister today. The one-day event, saw more than 500 attendees from all the top global VCs, PE funds, angels and LPs gather for the most significant global gathering of VCs in the world, with over $100 Billion worth of investable capital in the room.

The vast majority of investors agreed that Brexit is damaging to the European economy (82%) and a similar number that it directly damages British startups (77%).

The poll also found that the biggest threat to the tech industry, according to investors, was labour laws and regulation.

And in surprise result investors said that the least innovative major tech company was… Apple – with 39% saying this. With a nod to the US election, the poll found that 94% would have voted for Hillary Clinton and slightly less 89% predicted the democrat candidate was going to win.

You may also like...

Keep Up To Date - Subscribe To Our Email Newsletter Today

Get the latest industry news direct to your inbox on all your devices.

We may use your information to send you details about goods and services which we feel may be of interest to you. We will process your data in accordance with our Privacy Policy as displayed on our parent website