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 worldâ€™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 â€œinevitable that Artificial Intelligence will destroy millions of jobsâ€.
The vast majority of investors (93%) said governments were not prepared for the impact of AI on jobs.
Venture, Web Summitâ€™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 wasâ€¦ 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.
Methodology: Web Summit polled 224 global investors in face-to-face interviews on November 7.