Bill Gates has warned that artificial intelligence could cause widespread job losses and create serious security risks.

In a lengthy essay, the Microsoft co-founder said AI could replace workers in areas such as law, customer service, medicine, software and manufacturing.

Gates said some new jobs may emerge. However, he warned that AI may eliminate more jobs than it creates without the right policies.

He believes entry- and mid-level workers could face the greatest risk. Gates also predicted that smarter robots could compete with humans in some physical jobs by the end of the decade.

He warned that companies may rush to replace workers as AI becomes more accurate and cheaper to use. This could pressure other businesses to do the same.

Gates said AI differs from past technology because it can perform tasks that rely on human thinking. He warned that fewer industries may be able to absorb workers who lose their jobs.

His concerns also go beyond employment.

Gates warned that AI could make cyberattacks, fraud and other crimes easier to carry out. He also raised concerns that the technology could lower the barriers to creating dangerous diseases.

He said critical systems, including hospitals, financial institutions, water networks and power grids, could also become targets.

Gates called AI “the most dangerous tool ever invented” and argued that companies should not regulate themselves when developing systems with the potential to cause serious harm.

He supports mandatory reviews for powerful AI systems that could be used to create dangerous molecules or other biological threats.

Gates also accused parts of the technology industry of downplaying AI’s risks. He said some people in the industry privately recognise the dangers but avoid speaking strongly about them because of the huge financial stakes involved.

The Microsoft co-founder said the world needs to prepare for AI’s impact before the technology causes major economic and social disruption.