A new record has found that the majority of U.K. companies are willing to pay more for AI-related positions. Hiring managers will typically receive 45 % more for those with demonstrated experience in fields like robot growth, AI material creation, and natural language processing.
However, the necessary AI skills are difficult to come by because over 40 % of business leaders claim they ca n’t find full-time employees with the necessary skills. The findings, published in Fiverr’s 2024 U. K. Workforce Index, come from a study of 2, 200 U. K. business selection- manufacturers, knowledge workers and freelancers.
According to the scholars,” the high demand for these specialized Al abilities is driving businesses to take proactive steps to attract and retain talent.”
Almost half of the respondents to the Fiverr survey said that hiring with low-skilled ability was their number one challenge in common. AI is the main skill that the U.K. labor lacks, according to 32 %, with social media coming in second place from 2023.
What are the most in- require Artificial skills?
The most commonly sought after AI skills are AI content creation and ChatGPT, which were needed by 35 % and 32 % of respondents, respectively. Other in-demand skills include AI chatbot building ( 29 % ), proficiency with Midjourney’s AI image generator ( 25 % ), and AI image processing ( 21 % ).
SEE: This TechRepublic Academy offer includes a bag for AI and ML documentation.
The authors remarked that the rapid pace of technological advancement is a testament to the need for Al knowledge. The significant willingness of businesses to offer considerable spend raises for Al expertise highlights the crucial role these abilities play in fostering innovation and preserving a competitive edge.
This desire to invest in Al ability is reflected in broader recognition of Al technologies ‘ potential as a revolutionary tool in a variety of industries. Companies that give priority to the creation and integration of Al functions are likely to be innovators and efficient, setting standards for the upcoming work environment.
According to Donal McMahon, vice president of information knowledge at the work site However, the need for AI knowledge is being echoed worldwide, too. He stated earlier this year to TechRepublic that” all businesses are looking for people who are knowledgeable about AI and you adapt to new and emerging technologies.”
The lack of AI expertise holds the U. K. business again
The study’s findings support the new discovering that the U. K. trails behind the rest of Europe in specialized skills ability. According to a statement from Microsoft, adding five years to the time it takes to implement AI in the nation would reduce its socioeconomic impact by more than £150 billion in 2035.
In the Microsoft report, a lack of modern skills was identified as one of the main obstacles keeping U.K. businesses from digitization. In fact, 40 % of firms reported finding it challenging to hire qualified modern specialists, which causes a slower implementation of new technology.
The lack of modern proficiency in the United Kingdom suggests that existing efforts may need to be reassessed, and higher wages for those with Artificial expertise might encourage workers to retrain. Considering the government’s significant investments in digital skills,
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According to the U. K. government, the country’s AI sector already employs more than 50, 000 people and contributes more than £3.7 billion to the economy every year. By 2035, the U. K. AI market is forecast to grow to more than$ 1 trillion.
According to a study conducted by the Department for Education, between 10 % and 30 % of jobs could be automated using AI, so hiring employees who can implement this automation could have a significant impact on business efficiency and revenue.
Why is the UK lagging behind in AI skills?
The level of” skills- shortage vacancies, “where a job cannot be filled due to a lack of skills, qualifications or experience among applicants, is very high in the information and communications sector in the U. K., which encompasses AI. The figure climbed from an already high 25 % in 2017 to 43 % in 2022, the last year for which data is available.
SEE: Top IT Skills Trends in the U. K. for 2024
Red Hat surveyed IT managers in large U.K. businesses in 2023 to find out why teams were experiencing a skills shortage. The top three reasons were:
- High workloads prevent people from finding time to upgrade.
- The lack of budget for training, upskilling or recruitment.
- Teams working in silos, preventing cross- team learning opportunities.
