IPPR: 8M UK careers at risk of ‘job apocalypse’ from AI

A report by the Institute for Public Policy Research (IPPR) sheds light on the potential impact of AI on the UK job market. The study warns of an imminent 'job apocalypse', threatening to engulf over eight million careers across the nation, unless swift government intervention is enacted.

The report identifies two key stages of generative AI adoption. The first wave, which is already underway, exposes 11 percent of tasks performed by UK workers. Routine cognitive tasks like...

27 March 2024 | Artificial Intelligence

The UK is outpacing the US for AI hiring

A new report finds that the UK has been growing its AI job market faster than the US over the last five years. 

Analysing job listings data, the report by AIPRM found that – between 2017 and 2022 – the average yearly growth rate for AI hiring was 1.2% in the US. This compares to 1.22% in the UK over the same period. 

The UK's strong performance means it outpaced other major economies like India (1.19% growth), Canada (1.26%), and Brazil...

7 February 2024 | Artificial Intelligence

Bank of England Governor: AI won’t lead to mass job losses

Andrew Bailey, Governor of the Bank of England, has rebutted fears that AI will lead to widespread unemployment.

"I'm an economic historian, before I became a central banker. Economies adapt, jobs adapt, and we learn to work with it. And I think, you get a better result by people with machines than with machines on their own," Bailey told the BBC.

Bailey's comments come as the latest economic assessment shows that UK businesses investing in AI are expected to see gains...

2 February 2024 | Artificial Intelligence

IMF: AI could boost growth but worsen inequality

The International Monetary Fund (IMF) predicts that AI could boost global productivity and growth, but may displace jobs and worsen inequality.

In a new analysis, IMF economists examined AI's potential impact on the global labour market. While many studies foresee jobs being automated by AI, the technology will often complement human work instead. The IMF analysis weighs up both scenarios.  

The findings are striking: almost 40 percent of jobs globally are...

15 January 2024 | Artificial Intelligence

IFOW: AI can have a positive impact on jobs

In a world where sensational headlines about AI and autonomous robots dominate the media landscape, a new report sheds light on a different narrative.

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),...

20 September 2023 | Artificial Intelligence

Demand for AI expertise surges by 1,000%

Fiverr has released its seventh Business Trends Index, revealing a surge in demand for AI expertise.

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...

18 April 2023 | Artificial Intelligence

AI professionals seek job flexibility and stability over exciting perks

Research suggests that AI professionals looking for a new job prioritise flexibility and stability over exciting perks.

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...

20 March 2023 | Enterprise

DCMS spent 75% more on data scientists in 2021

Investments in data scientists by the UK’s Department for Digital, Culture, Media & Sport (DCMS) continue to increase rapidly.

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...

22 April 2022 | Legislation & Government

Data scientists’ pay could hit £100k in 2022 amid ‘white hot’ jobs market

According to a forecast by Randstad, the salaries of leading data scientists could hit £100,000 by April 2022 amid a “white hot” jobs market.

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...

22 November 2021 | Artificial Intelligence

CEBR: Automation increases US/UK business revenues, boosts economic resilience

Research conducted by the Centre for Economics and Business Research (CEBR), in conjunction with SnapLogic, has found that automation is having a profound impact on the monthly revenues of UK businesses.

Within three months of investment in automation technologies, UK companies saw an average increase of five percent – or £14 billion – per month.

The impact on US businesses was even higher. Over the same three-month period, US companies witnessed an average...

16 November 2021 | Enterprise