Artificial Intelligence and the future skills-gap

Artificial Intelligence has the potential to create new jobs, but firms remain concerned about filling these vacancies.

Ai and Human graphic
Over the next 20 years Artificial Intelligence (AI) is expected to create as many jobs in the UK as it will displace, according the latest report from the PwC. Their analysis showed that the fourth industrial revolution would favour those with strong digital skills, as well as capabilities like creativity and teamwork which machines find difficult to replicate.

Balancing employment and productivity

John Hawksworth, chief economist at PwC, said, “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.”
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Workforce supply gap in the digital age

There is also potential for a large supply gap, with 63 per cent of CEOs worried about the lack of talent to stay competitive in the digital age.As firms compete for digital superiority, they must take a grass-roots approach to understanding the skills gap in the existing teams, according to Farida Gibbs, CEO and founder of professional services firm, Gibbs Hybrid.Ms Gibbs comments, “As the demand for people with digital skills increases, many firms make the mistake of hiring IT experts without first understanding what they need for tech advancement.“With so much technology out there, it is difficult for firms navigating change to cut through the noise. Having access to ‘ready-made’ digital teams as needed allows firms to tap into the right expertise. It’s almost like having a menu where they can pick and choose a project team, which will be best able to cater to their specific business requirements.“45 per cent of IT projects go over budget. Having these agile teams will allow firms to deliver successful outcomes when it comes to driving innovation their business.  Firms can stay competitive and keep up with the digital age, taking advantage of on-demand digital teams to cut costs, mitigate risk and accelerate change.”Relocate’s new Global Mobility Toolkit provides free information, practical advice and support for HR, global mobility managers and global teams operating overseas.Global Mobility Toolkit download factsheets resource centreAccess hundreds of global services and suppliers in our Online DirectoryClick to get to the Relocate Global Online Directory