As we move into the digital age, we use Artificial Intelligence (AI) more and more daily. As a technology advancement leader, the United Kingdom also embraces this change. AI power can change many UK industries and how the country works, from individuals to businesses to the government. It has already started to affect the UK’s economic growth, job opportunities, and workforce. AI has become a topic for everyday chats. Everyone from government officials to businesses and schools is trying to figure out how to handle the changes AI will bring to the future workforce.
The current state of AI in the UK
The UK is doing really well in the AI world. They have a strong AI market with higher investments and help many new AI companies start up. Analytics say the UK’s AI market is worth more than £16.9 billion, which is expected to grow to £803.7 billion by 2035. The number of UK AI companies has gone up by 688% in the last ten years. Did you know the UK’s AI industry raised $3.3 billion in 2021? That’s how they became a world leader in AI.
People in the UK use AI in many different areas, such as healthcare, finance, manufacturing, and retail. The government summarizes that about 15% of all businesses, or 432,000 companies, use at least one type of AI. After the IT and telecommunications sectors, the legal sector uses AI the most.
How does AI improve UK companies?
Unlike other companies in other countries, UK companies have the real deal of AI to their advantage. They use AI to make their operations more efficient, improve customer experiences, and grow their businesses in real time.
For example, Marks & Spencer, a leading British retailer, is using computer vision technology (SymphonyAI) to compare images of products in stores to store plans. This provides them with shelf compliance and task prioritization for store associates. These handheld devices scan products, compare them to store-specific planograms, and facilitate real-time insights. And M&S is implementing AI in over 500 stores to optimize their operations. This is just one example of how this powerful technology is taking over companies in the UK.
AI’s impact on the UK economy and jobs
The UK’s AI integration has the potential to unlock significant economic benefits. The International Trade Administration says the UK’s $21 billion AI industry could add $1 trillion to the economy by 2035. That’s more than the £630 billion that PwC estimated before.
Impact of AI on the job market
There is a lot of discussion about how AI will change jobs. AI might replace some jobs, but it might also create new ones. The World Economic Forum says that by 2025, machines will do more tasks than humans. They also say that AI will create 12 million more jobs than it takes away.
Regional distribution of AI skills in the UK
When it comes to AI skills in the UK, Greater London is leading the way, with 2.2% of all job postings in the city mentioning them. Northern Ireland is next with 1.0%, and then the South East with 0.9%. However, other places like Cambridge, Manchester, Bristol, Edinburgh, Oxford, and Birmingham also have a lot of AI and data science jobs.
The future of AI in the UK
We can see significant growth in the UK AI market in the coming years. The market size is expected to show a yearly growth rate of 14.14% during the 2024-2030 period. Expenditure on AI technologies could increase to between £27.2 billion and £35.6 billion by 2025, growing at rates of about 10% and 16% each year.
AI adoption across sectors
Around 15% of all businesses, or 432,000 companies, use at least one type of AI. Researchers think 22.7% of businesses will be using AI in 2025, which could grow to 34.8% in 2040. AI will bring the most benefits to healthcare, finance, and manufacturing sectors nationwide.
London as a hub for AI startups
London has become a core place for AI startups. London serves as the primary hub for AI startups in the UK, with about 80% of the top 50 AI companies in the country, including DeepMind, Adbrain, and BenevolentAI. How did London City take the lead? The city has an exciting tech ecosystem and world-class universities, and the government has established supportive policies to help it become successful in AI innovation.
How AI changes UK job roles and responsibilities
We could also expect significant changes in job roles and responsibilities with the UK’s AI integration into the workforce. AI might do some tasks, but new jobs will also be created to work with AI systems. For example, a report said the top three new jobs in the UK are artificial intelligence specialist, data protection officer, and robotics engineer.
Changes in training and qualifications
These changes will require changes in training and qualifications. People will have to focus more on computer science, data analysis, and AI engineering. The UK government supports AI growth, and they have started a nationwide program of AI master courses. They were funded by industry and included work placements. Thousands more people across the UK are training and gaining qualifications in AI technology.
Transformation of the nature of work
Also, the rise of AI will change the way we work. More than ever, people will have to sharpen their critical thinking, creativity, and emotional intelligence skills. Why? These skills will be more valuable in the future when AI takes over more routine and repetitive tasks. Workers must learn and adapt new skills to work with AI systems. So, AI will indirectly improve human skills in the future and shape our brains with the ongoing tech race.
Conclusion
AI has the potential to reshape the UK’s future workforce significantly. It could help the economy grow and create more jobs, and it could also change the way we work. As the UK continues to use more AI, every worker in the country will have to adapt to this technology to prepare for a new future of productivity.
