Businesses are ramping up AI spending as demand for new skills increases

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By Craig Hale
published

Investment in AI skills is on the up

AI
(Image credit: Shutterstock)

The world is witnessing a significant shift in its labor market due to the increasing adoption of artificial intelligence, new research has claimed.

A report from LinkedIn has detailed a 9% surge in hiring AI technical talent over the past year in the UK, signaling a growing reliance on the emerging technology that has now become commonplace in many industries.

The shift is reflected across hiring trends and evolving skill sets, with studies suggesting that the skills needed for jobs in the UK specifically could change by as much as 65% by 2023, compared with 2016.

AI is transforming the labor market

The top AI skills now in demand across the UK include AI, machine learning, generative AI, deep learning and natural language processing, according to LinkedIn’s study. These skills are increasingly sought after across a range of sectors, with administrative and supportive services, professional services, technology, information and media, manufacturing, and financial services all asking for these increasingly important skills.

Janine Chamberlin, LinkedIn’s UK Country Manager, emphasized the necessity for companies to prioritize upskilling efforts: “Businesses that invest in helping their employees become AI-literate will benefit from productivity gains and have an edge over competitors.”

Chamberlain recommends testing publicly available tools like Microsoft Copilot and ChatGPT as a stepping stone to deploying more advanced, more customized AI apps.

At the same time, a separate Rackspace Technology study carried out in collaboration with AWS recorded that three in four (75%) IT decision-makers plan on investing between $0.5 and $5 million in AI this year. According to that report, between 36% and 48% credit AI with boosting their sales.

The report’s findings align with those of LinkedIn – according to Rackspace, 85% of respondents attempted to recruit people with AI/ML skills in the past year, and Rackspace’s predicted boost in investment comes at the right time, with LinkedIn finding that seven in 10 UK hiring managers predict that the skills gap will widen in the next five years.

Chamberlain summarized: “Those that [actively upskill employees] will help their workforce stay agile and build skills needed for the future of work.”

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Craig Hale
Craig Hale

With several years’ experience freelancing in tech and automotive circles, Craig’s specific interests lie in technology that is designed to better our lives, including AI and ML, productivity aids, and smart fitness. He is also passionate about cars and the decarbonisation of personal transportation. As an avid bargain-hunter, you can be sure that any deal Craig finds is top value!