A new industrial revolution could mean many workers will never have enough money to retire, Bank of England governor Mark Carney has warned.

He said automation, artificial intelligence, biotechnology and 3D printing will lead to higher unemployment and rising inequality.

The predicted changes, which Carney described as a fourth industrial revolution, could lead to a “substantial skills mismatch”.

He said about ten per cent of jobs in the UK will disappear, while the “threat of robot substitutes” will weaken workers’ bargaining powers with employers.

In a speech at the Republic of Ireland’s Central Bank in Dublin, Carney said: "Unlike in the previous industrial revolutions, the more rapid pace of adjustment and longer working lives means workers may not have the option of retiring.

“This raises risks of substantial skills mismatch, leading to increased structural unemployment and adverse macroeconomic outcomes.”

The lecture came a day after he warned UK government ministers that house prices could fall by a third in the event of a no deal Brexit.

Speaking in Dublin on Friday, Carney delivered a further warning about the challenge to traditional employment posed by advances in technology.

He said those without the skills to exploit the move towards roles geared to originality or emotional intelligence could be left unemployed.

Carney said innovation in education must be used to prevent a skills mismatch.

He said: “The biggest issue may be how to institutionalise retraining in mid-career and to integrate it with the social welfare system.”

Carney added that in the longer-term work practices would be revolutionised to boost productivity and wages. He said new jobs would maintain or even increase overall employment.

“But that is in the long run,” Carney said. “In the interim, if it is similar to previous industrial revolutions, it seems likely there will be a period of technological unemployment, dislocation and rising inequality.

“Given that it could happen more rapidly, the challenge of workforce adjustment could be more difficult. The shifts required in employment from jobs involving heads to those with hearts and hands could be far greater each year than seen in previous episodes.”