England’s artificial intelligence sector is seeing fewer job openings now than two years ago, signaling caution from employers towards the technology. This comes even with the government’s push to make AI a leading industry. Data from Reed Recruitment, as analysed by Bloomberg, reveals that job listings related to AI decreased at a quicker pace than the overall job market, despite growing interest in AI technology.
PM Sunak’s AI Push Meets Resistance
Prime Minister Rishi Sunak faces challenges in his bid to bolster the UK’s AI economy. His aim for the UK to be at the forefront of AI development now seems ambitious, especially as AI job postings fell by almost 40% over the last year. “AI is the defining technology of our time,” Sunak commented. But the recent data suggests otherwise. Over the past three months, job postings have dropped by 61% since their peak in 2019.
AI Skills: Part of Existing Jobs?
James Reed, chairman of Reed Recruitment, believes that the use of AI may gradually integrate into existing job roles, enhancing capabilities and productivity rather than creating entirely new positions. “Employers are cautiously figuring out how to get the most from this new technology,” Reed mentioned.
Even with a drop in AI job listings, the number of applicants has surged. The recent data shows that applications for AI roles in mid-2023 were almost twice that of the previous year. As businesses see the full capabilities of tailor-made AI solutions, these roles will become a central part of the job market.
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Top AI Employment Regions
Interestingly, the major hubs for AI jobs in the UK aren’t in the usual tech centers like London. Instead, university cities like Cambridge and Oxford lead the pack. In terms of AI jobs per 10,000 workers, Cambridge had around 320 and Oxford had 190. Even Manchester and Bristol, home to renowned universities, had more AI jobs per 10,000 workers than London. Reed comments, “University cities are where AI is growing rapidly. It’s where the innovation and science hubs are.”
Sunak’s Warning on AI’s Power
Ahead of a major AI summit, Sunak voiced his concerns regarding the potential dangers of AI. He warned of the potential for AI to be used in cyberattacks, spreading false information, terrorism, and even in the production of weapons. Sunak also spoke of the extreme risks associated with superintelligent AI. “The risks might be remote, but if they happen, the results could be catastrophic,” Sunak stated.
Economic Views on AI
With a slowing AI job market, experts voice concerns over AI replacing a broad range of jobs, forcing many to learn new skills swiftly. On a positive note, some economists believe AI can boost productivity, driving economic growth. “AI jobs will be a big part of the job market soon. Those with AI skills will stand out,” said Kris Harris, regional director of UK technology solutions at Robert Half.
In summary, the AI sector in England has slowed, but interest in the field remains high. As the sector continues to develop, the focus seems to be on integrating AI into existing roles and capitalising on the technology’s strengths for the economy’s benefit.