00:00The overall data tells us today that AI is creating jobs in the UK. It's creating manufacturing jobs
00:05where the cost of using human plus AI in Britain is now getting competitive with the cost of low
00:12wage labour in Asia, for example. Onshoring manufacturing is a big focus. Making sure
00:18that we're creating jobs in industries like chip manufacturing, proud South Wales strength as well.
00:24We are investing today in an advanced chip design centre as well. Making sure that we're building
00:29British firms, British jobs through sovereign AI. So the overall picture, of course, my heart goes out
00:35to everyone affected by job changes in firms. And I would ask firms to take their responsibilities
00:40to workers seriously. The overall picture is that AI is supporting jobs today and it's supporting
00:46tax revenue as a result of driving growth. I'm not complacent about what might happen tomorrow.
00:51That is why we're setting up the best institute to understand where it goes to be able to then
00:57protect British workers when the impact of AI is more fully felt.
