The research, funded by the Nuffield Foundation, explores the nuanced impacts of AI adoption on jobs and work quality. Contrary to the doomsday predictions, the report suggests that AI could have a positive influence on employment and job quality.

The study, conducted by the Institute for the Future of Work (IFOW), indicates that AI adoption is already well underway in UK firms. However, rather than leading to widespread job loss, it suggests that AI has the potential to create more jobs and improve the quality of existing ones.

Anna Thomas, Co-Founder and Director of the IFOW, expressed optimism about the study’s results: “This report not only highlights that the adoption of AI is well underway across UK firms but that it is possible for this tech transformation to lead to both net job creation and more ‘good work’ – great news as we look to solve the UK’s productivity puzzle.”

“With the [UK-hosted global] AI Summit fast approaching, Government must act urgently to regulate, legislate and invest so that UK firms and workers can benefit from this fast-moving technology.”

One key takeaway from the study is the importance of regional investment in education and infrastructure to make all areas of the UK ‘innovation ready.’ The study also emphasises the need for firms to engage workers when investing in automation and AI.

Taking these suggested actions could help ensure that the benefits of AI are distributed more evenly across regions and demographics, reducing existing inequalities.

Professor Sir Christopher Pissarides, Nobel Laureate and Co-Founder of IFOW, stressed the significance of placing “good jobs” at the heart of an economic and industrial strategy in the age of automation. He believes that the study provides valuable insights into how this can be achieved.

The IFOW’s study suggests that with the right approach, AI adoption can lead to a positive transformation of the labour market. By investing in education, infrastructure, and worker engagement, the UK can harness the potential of AI to create more jobs and improve job quality across the country.

Matt Robinson, Head of Nations and Regions, techUK, commented: “Realising the benefits of technologies like AI for all will mean getting the right foundations in place across areas like digital infrastructure and skills provision in every part of the UK to enable and create high-quality digital jobs.

“Access to good digital infrastructure, as well as skills and talent, is a priority for techUK members, and the Institute’s work provides welcome insights into their importance for creating good work throughout the country.”

While the IFOW’s study paints a more positive outlook on the adoption of AI than most headlines, it will be an uphill battle to convince the wider public.

A poll of US adults released this week by Mitre-Harris found the majority (54%) believe the risks of AI and just 39 percent of adults said they believed today’s AI technologies are safe and secure — down nine points from the previous survey.

As the AI industry continues to evolve, urgent action from governments, employers, and employees is essential to realise the opportunities, manage the risks, and convince a wary public of the technology’s benefits.

A copy of the full working paper can be found here (PDF)

(Photo by Damian Zaleski on Unsplash)

See also: CMA sets out principles for responsible AI development 

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According to a recent report by Harnham, a leading data and analytics recruitment agency in the UK, the demand for ML engineering roles has been steadily rising over the past few years.

Recently, there’s been a shift towards MLOps professionals who possess the skills to bridge the gap between data scientists and data engineers, thereby optimising the deployment of ML models.

Harnham’s report provides comprehensive insights into the salaries and day rates of various data science roles across the UK.

Technical leads/managers in computer vision, data science, deep learning & AI, ML engineering, MLOps, and natural language processing are earning annual base salaries ranging from £44,000 to £120,000, depending on experience and location.

In addition to competitive compensation, data science professionals are seeking specific benefits to enhance their job satisfaction.

The top five desirable benefits include remote working options, bonuses, health insurance, flexible working hours, and shares. These perks play a crucial role in attracting and retaining top talent in the data science sector.

The report also sheds light on some critical trends and statistics in the industry.

25 percent of professionals cited a non-competitive salary/rate as the top reason for leaving a role, followed closely by a lack of career progression (24%) and a “better opportunity” coming along (22%).

The number of female professionals in the field has increased from 22 percent last year, indicating a positive shift towards greater gender diversity in data science.

While the field of data science continues to evolve rapidly, professionals are keen to explore new opportunities.

One finding from the report reveals that data science professionals are the most likely to leave their current roles if the right opportunity arises. The ongoing talent shortage means that relevant expertise is in high demand and many opportunities are available.

Advancements in AI and ML are transforming the landscape and creating exciting new job opportunities. As the demand for data professionals continues to surge, companies must adapt to remain competitive in attracting and retaining top talent in this thriving field.

For more information and in-depth data on data science salaries and trends in the UK, refer to the Harnham Data & AI Salary Guide for 2023.

(Photo by Ben Rosett on Unsplash)

See also: Universities want to ensure staff and students are ‘AI-literate’

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The ongoing skills shortage is making it difficult for businesses to attract, and retain, tech industry talent. AI expertise is particularly in-demand.

Among the sectors that have seen the biggest increase on Fiverr’s platform include ‘Accounting and Finance’ services, which has seen an 835 percent increase over the past six months—showing a clear demand for AI and machine learning technologies that can help businesses streamline their financial processes and optimise operations.

The report also highlighted the growing trend for AI in creative industries, with AI art seeing a 6,223 percent increase in searches in the UK over the past six months. This suggests that businesses are increasingly exploring the use of AI technologies to create new and innovative products in the creative sector.

Bukki Adedapo, UK Country Manager at Fiverr, said:

“The services that are trending on the Fiverr platform are indicative of society’s rapidly increasing awareness and adoption of AI on a wider scale, following the launch of a number of generative AI tools to varied success.

What may be a little more surprising is the suggestion that UK businesses are actually being founded more now during a time of global economic turbulence than before. Having said this, often recessions and times of dramatic global shifts present new opportunities for businesses to prosper.

In the last 6 months, businesses and freelancers have certainly been tested, but we’re delighted that Fiverr is helping them to overcome the odds.”

Despite the economic challenges caused by the pandemic, a large number of businesses are still being founded in the UK.

Fiverr’s data suggests that there has been a significant uptick in Business Naming services (+51%) and Website Development (+92%) over the past six months, indicating that UK businesses are continuing to back themselves to thrive during the economic downturn.

Overall, the latest Business Trends Index shows that businesses and freelancers are adapting to the challenges of the pandemic, with many looking to technology to help them navigate the changing landscape.

The rise in demand for AI services highlights the growing recognition of the benefits that these technologies can offer, from automating mundane tasks to improving decision-making processes.

Alexia Pedersen, VP of EMEA at O’Reilly, commented:

“As the demand for jobs increases, so will the need for digital skills in order to meet the growing demand. However, our research shows that demand for digitally skilled workers in the UK is outgrowing the level of digital skills available. 

To minimise the growing skills gap, organisations must invest in creating a highly skilled workforce to meet the growing availability of staff. At the same time, employees should prioritise L&D to make themselves an invaluable asset to their company – proactively identifying training opportunities with a quality L&D partner, particularly one that aligns with their unique learning style and objectives.

While there is no cookie-cutter approach to upskilling, individuals should be granted access to a range of learning opportunities as part of a defined path of individual development and wider organisational culture of personal development.”  

As the world continues to evolve, businesses that are quick to embrace AI and other emerging technologies are likely to be best positioned for success in the years ahead.

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Despite recent high-profile layoffs, the wider talent shortage is ongoing. Organisations looking to attract, or retain, the best candidates are offering numerous unique benefits.

However, research from BenchSci finds that AI, machine learning, and data professionals are mostly looking for flexibility and stability in their future career.

Vanessa Ribreau, Chief People Officer at BenchSci, said:

“While the global economy continues to face challenges and instability, competition for tech talent is not slowing down.

This research, conducted with one of the most sought-after groups in terms of tech talent, clearly shows that well-recognised names and generous salaries are no longer enough to entice the brightest talent.”

Here are the top five priorities of talent when choosing an employer: 

• Flexibility (e.g. Flexible hours, unlimited vacation days)
• Chance for progression
• Remuneration
• Stability
• Challenge

Among the areas that professionals value less – but are often focused on by employers – include whether the organisation is doing good in the world and has environmentally-sustainable practices, and benefits such as healthcare plans.

“Talent are willing to invest their personal capital in the form of time, energy, and labour for the right company, but only for a healthy return on their investment. Career progression and personal development are a must,” adds Ribreau.

“The companies that will stay ahead are the ones who think of their employees as key stakeholders, not a means to an end.”

When assessing stability, the top aspects that respondents look for in an employer are their plans for long-term growth (46%) and strong profit margins (43%).

Elizabeth Hanson, Director of Engineering, Data Delivery at BenchSci, commented:

“Despite widespread murmurings of employees being flighty, perhaps as a result of the pandemic and the current recessionary environment, the data firmly shows that the AI workforce is still thinking long-term.

Engineers specifically are looking for companies where they can invest their time, energy, and expertise in return for growth opportunities – both financial and developmental. This is the trend I’ve seen while hiring and searching for roles myself. 

Workplaces that meet these needs will not only attract the best talent, but retain them too.”

You can find a full copy of BenchSci’s whitepaper here.

(Photo by Hunters Race on Unsplash)

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The data, retrieved by the Parliament Street think tank, shows that DCMS has spent an estimated £20,606,100 on data scientist and data analyst roles between 2017 and 2021.

Niall Crosby, CEO of AG Grid, commented:

“Today’s digital world creates a lot of data, and the ability to process, understand, and make decisions based on this data is very important.

Investing in data analytics will enable the Department of Culture, Media and Sport to operate more efficiently.

I am delighted to see the investment the government is making in this area.”

Last year saw record investment in data scientist/analyst roles. Around £7,383,000 was spent by DCMS in 2021 on bolstering its talent; a 75 percent increase over 2020 when an estimated £4,213,800 was spent.

Here’s the full breakdown:

As of 2021, DCMS employs around 150 full-time staff relating to data science.

(Photo by Colin Watts on Unsplash)

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A large number of vacancies across many sectors of the jobs market are leading employers to offer higher salaries to attract and retain staff. With inflation expected to hit five percent next year, workers are simultaneously looking for pay increases to keep pace with the cost of living.

Adrian Smith, Senior Director of Operations at Randstad UK, said:

“Since February, employers have started having to put the pedal to the metal when it comes to starting salaries.

When it comes to the best data scientists in London, we will be seeing six-figure sums offered to new joiners by spring of 2022—that’s despite London-weighting losing some of its power, as more people choose to work remotely.

Organisations simply have no choice, the jobs market is burning white hot. Organisations are offering large signing-on bonuses, employees are asking for raises three months after they join, and headhunters are cornering hot recruits before they’ve even settled behind their desks.

Companies are scrambling to hire and retain the people they need and talented data scientists are critical to the performance of the team of any director of data science.”

The average UK salary for a data scientist in February 2020 was £47,600. Over the pandemic, that only increased marginally to £47,800. With the worst of the pandemic now (hopefully) behind us, many employees are in for bigger paydays.

By April 2022, the average salary for a data scientist is forecast to hit £68,100.

“As a result, any head of data or director of data who isn’t paying top dollar is going to end up weakening their talent pool. They’ll soon discover that without the best people, their data team is an empty shell,” commented Smith.

“Even if they recognise the benefits of strengthening their data team’s talent pool,  they’ll need to start thinking and acting differently if they’re going to win the war for talent.”

Other sectors – including high flyers in banks, insurers, and professional services within London’s financial services sector – are expected to see even bigger growth, with the base salaries of “A-players” set to break the £100,000 barrier over the same period.

“Venerable bastions of data talent – such as investment banks and consulting firms – are losing talent to tech start-ups,” added Smith. “The war for talent has reemerged from the ashes of the pandemic and will continue to reshape the workplace for the next decade.”

Bonuses for workers in the UK’s tech sector are also on the increase. The forecast for an individual’s bonus is 25 percent higher than last year.

“Base salary is not the whole story. Overall, data scientists are expecting another four percent in bonuses as well. In the capital, that could represent a juicy four grand for the best and the brightest,” concludes Smith.

(Photo by Fred Moon on Unsplash)

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There is still fierce debate about the impact that artificial intelligence will have on jobs. Some believe that AI will replace many jobs and lead to the requirement of a Universal Basic Income (UBI), while others claim it will primarily offer assistance to help workers be more productive.

Dorsey is a respected technologist with a deep understanding of emerging technologies. Aside from creating Twitter, he also founded Square which is currently pushing the mass adoption of blockchain-based digital currencies such as Bitcoin and Ethereum.

Yang was seen as the presidential candidate for technologists before he suspended his campaign in February, with The New York Times calling him “The Internet’s Favorite Candidate” and his campaign was noted for its “tech-friendly” nature. The entrepreneur, lawyer, and philanthropist founded Venture for America, a non-profit which aimed to create jobs in cities most affected by the Great Recession. In March, Yang announced the creation of the Humanity Forward non-profit which is dedicated to promoting the ideas during his presidential campaign.

Jobs are now very much at threat once again; with the coronavirus wiping out all job gains since the Great Recession over a period of just four weeks. If emerging technologies such as AI do pose a risk to jobs, it could only compound the problem further.

In an episode of the Yang Speaks podcast, Dorsey warns that AI will pose a particular threat to entry-level programming jobs. However, even seasoned programmers will have their worth devalued.

“A lot of the goals of machine learning and deep learning is to write the software itself over time so a lot of entry-level programming jobs will just not be as relevant anymore,” Dorsey told Yang.

Yang is a proponent of a UBI. Dorsey said that such free cash payments could provide a “floor” for if people lose their jobs due to automation. Such free cash wouldn’t allow for luxurious items and holidays, but would ensure that people can keep a roof over their heads and food on the table.

UBI would provide workers with “peace of mind” that they can “feed their children while they are learning how to transition into this new world,” Dorsey explains.

Critics of UBI argue that such a permanent scheme would be expensive.

The UK is finding that out to some extent currently with its coronavirus furlough scheme. Under the scheme, the state will pay 80 percent of a worker’s salary to prevent job losses during the crisis. However, it’s costing approximately £14 billion per month and is expected to be wound down in the coming months due to being unsustainable.

However, some kind of UBI system is appearing increasingly needed.

In November, the Brookings Institute published a report (PDF) which highlights the risk AI poses to jobs. 

“Workers with graduate or professional degrees will be almost four times as exposed to AI as workers with just a high school degree. Holders of bachelor’s degrees will be the most exposed by education level, more than five times as exposed to AI than workers with just a high school degree,” the paper says.

In their analysis, the Brookings Institute ranked professions by their risk from AI exposure. Computer programmers ranked third, backing Dorsey’s prediction, just behind market research analysts and sales managers.

(Image Credit: Jack Dorsey by Thierry Ehrmann under CC BY 2.0 license)

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The career boasts a current average salary of $146,085 with a growth rate of 344 percent last year.

Tech-related jobs, in general, continue to be winners. Indeed set out to find the top 25 jobs for 2019 in their report and nine of them are comprised of tech roles.

Roles such as software developer continue to rank highly due to a high number of job openings, but machine learning engineer roles claim the number one spot due to higher salaries and faster growth.

A second AI-related job sits just outside the top 10. At number 13, ‘Computer Vision Engineer’ has a higher average base salary ($158,303)  than a machine learning engineer, but is ranked lower due to slower growth (116%).

Here’s the full list of top jobs in Indeed’s report:

Due to the increasing use of AI in companies’ operations, the report expects this growth to continue accelerating in the coming years.

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Retail is a major focus of AI but there’s debate over whether it will have a positive or negative on society, especially with regards to jobs. Some believe AI will assist existing jobs while others take a view it will replace workers.

Capgemini found just one percent of retailers have achieved the level of AI deployment needed to reach its full potential.

Kees Jacobs, VP of Global Consumer Products and Retail Sector at Capgemini, said:

“For global retailers, it appears reality has kicked in regarding AI, both in terms of what the technology can achieve and what they need to do to get there.

Of course, deploying and scaling will be the next big objective, but retailers should be wary not to chase ROI figures without also considering the customer experience.”

Most retailers, according to the researchers, are focusing their efforts on using AI for sales and marketing purposes. The company notes AI has the potential to be used across the value chain.

“Our research shows a clear imbalance of organizations prioritizing cost, data and ROI when deploying AI, with only a small minority considering the customer pain points also,” comments Jacobs.

“These two factors need to be given equal weighting if long-term AI growth, with all of the benefits it brings, is to be achieved.”

400 global retailers who’ve implemented AI were studied for the research; accounting for 23 percent of the global retail market by revenue. Public data from the world’s largest 250 retailers by revenue was also included.

Over a quarter (28%) of retailers had deployed AI in 2018, up from just 17 percent in 2017.

As for the job loss fears, 71 percent of the retailers said AI was creating jobs. However, 68 percent of the roles were of a senior level which could be out the reach of lower-skilled retail workers AI may displace.

Currently, 75 percent report AI has not replaced any jobs in their organisation.

Interested in hearing industry leaders discuss subjects like this and their use cases? Attend the co-located AI & Big Data Expo events with upcoming shows in Silicon Valley, London, and Amsterdam to learn more. Co-located with the IoT Tech Expo, Blockchain Expo, and Cyber Security & Cloud Expo.

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The professional services firm’s analysts predict, in the UK at least, the number of jobs destroyed by AI is likely to be counteracted by the number of roles created.

In fact, over the next 20 years, PwC expects around 7.2 million to be created versus seven million displaced – resulting in a small net jobs growth of around 0.2 million.

Euan Cameron, UK AI leader at PwC, said:

“AI offers a huge potential economic boost to the UK and it’s great to see the government recognise and support the development of the sector through the AI Sector Deal.

People are understandably worried about the impact of AI on jobs, and businesses and the government need to address these concerns head-on. Our research highlights where the biggest impacts will be and which areas are most vulnerable so that businesses and government can plan how best to help people develop the skills that will prepare them for the future.

It’s likely that the fourth industrial revolution will favour those with strong digital skills, as well as capabilities like creativity and teamwork which machines find it harder to replicate.

Historically, rapid technological change has often been associated with increases in wealth and income inequality, so it’s vital that government and business work together to make sure everyone benefits from the positive benefits that AI can bring. These include increased productivity and consumer choice, as well as improved outcomes in those areas that matter most to people such as education to healthcare.”

Many reports until now have taken hardline stances – either AI will drastically alter the jobs market and will require ideas such as UBI (Universal Basic Income) to be considered, or it will simply help to improve the efficiency of existing jobs.

PwC expects certain industries to be ‘winners’ in terms of job growth, while others will lose out.

Winners:

• • Health (+22%)

• • Professional, scientific and technical services (+16%)

• Education (+6%)

Losers:

• • Manufacturing (-25%)

• • Transport and storage (-22%)

• Public administration (-18%)

It’s notable that low-wage jobs are set to lose out the most. This highlights a particular risk to individuals such as factory workers who are most likely to be among the first to be replaced by artificial intelligence.

However, the report notes: “A job being at ‘high risk’ of being automated does not mean that it will definitely be automated, as there could be a range of economic, legal and regulatory and organisational barriers to the adoption of these new technologies.”

John Hawksworth, Chief Economist at PwC, commented:

“Major new technologies, from steam engines to computers, displace some existing jobs but also generate large productivity gains. This reduces prices and increases real income and spending levels, which in turn creates demand for additional workers. Our analysis suggests the same will be true of AI, robots and related technologies, but the distribution of jobs across sectors will shift considerably in the process.

Healthcare is likely to see rising employment as it will be increasingly in demand as society becomes richer and the UK population ages. While some jobs may be displaced, many more are likely to be created as real incomes rise and patients still want the ‘human touch’ from doctors, nurses and other health and social care workers.

On the other hand, as driverless vehicles roll out across the economy and factories and warehouses become increasingly automated, the manufacturing and transportation and storage sectors could see a reduction in employment levels.”

PwC recommends the government invests more in STEM (Science, Technology, Engineering, and Mathematics) education to ensure the workforce is prepared for the needs of the future economy, while also increasing the ‘safety net’ for those who struggle to adapt.

Furthermore, the government should implement its AI strategy ‘in full’ to ensure policies support development of the sector and maximise the income effect of the rapidly-advancing technology on jobs in the UK.

The full results can be found in PwC’s UK Economic Outlook July 2018 report which can be found here (PDF)

Do you agree with PwC’s analysis of AI’s impact on the jobs market? Let us know in the comments.

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