Subj : Businesses are ramping up AI spending as demand for new skills in
To   : All
From : TechnologyDaily
Date : Wed Mar 27 2024 10:00:06

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

Date:
Wed, 27 Mar 2024 09:45:19 +0000

Description:
New reports reveal the importance of AI/ML skills in the labor market as 
companies begin to reassess their desired skills.

FULL STORY
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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 
LinkedIns 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, LinkedIns 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 reports 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 Rackspaces 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. 
More from TechRadar Pro The AI skills gap is becoming incredibly troubling 
for companies everywhere Weve rounded up the best AI tools and best AI 
writers you can use today Ready to upskill? Check out the best online 
learning platforms



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Link to news story:
https://www.techradar.com/pro/businesses-are-ramping-up-ai-spending-as-demand-
for-new-skills-increases


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