The UK Job Market Is Transforming – Are You Ready for the AI Boom?

New research in Britain shows AI makes a job 14% more valuable!

Productivity Surge in AI-Exposed Sectors

A recent report by PwC reveals that sectors of the global economy most exposed to artificial intelligence (AI) are experiencing significant productivity increases, offering hope for lifting the global economy out of a prolonged low-growth period. The study found that productivity growth in AI-integrated sectors was nearly five times higher than in those less exposed to AI.

UK Employers Offer AI Skill Premium

In the UK, job postings requiring AI skills are growing 3.6 times faster than other listings, with employers willing to pay a 14% wage premium for such roles. This trend is particularly strong in the legal and information technology sectors. PwC’s findings suggest that AI has been impacting the job market for over a decade, with postings for AI specialist jobs increasing sevenfold since 2012.

AI as a Solution to Labour Shortages

PwC’s 2024 global AI jobs barometer highlights AI’s potential to address labour shortages, especially in nations with shrinking working-age populations. Despite concerns about job losses, the report indicates that employment in AI-exposed occupations is still growing, suggesting that generative AI may create new industries and transform the job market rather than trigger widespread unemployment.

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*An AI tool was used to add an extra layer to the editing process for this story.