Mark Carney said the nature of work was changing, with Britain on the cusp of an industrial revolution in AI and automation

Longer lives and rapid advances in technology could mean that some workers never have the option of retiring, Mark Carney has warned.

The governor of the Bank of England said yesterday that Britain was on the verge of entering a Fourth Industrial Revolution that would be dominated by artificial intelligence, automation, biotechnology and 3D printing.

He said the nature of work was shifting so rapidly that there was a risk that many workers would not be able to move seamlessly to new jobs, yet many may not be able to afford to retire either.

Speaking in Dublin at the Republic of Ireland’s Central Bank yesterday, Mr Carney said: “Unlike in the previous industrial revolutions, the more rapid pace of adjustment and longer working lives means