AI dominates top UK IT jobs, driving high salary premiums
Artificial Intelligence (AI) has become a central skill for IT professionals, with almost all of the highest paying roles in the UK now demanding a proficiency in AI. According to research by Thomson Reuters, 97% of IT positions paying over £100,000 annually require AI skills as a core component.
Out of over 5,300 live tech jobs advertised in April 2024, it was found that more than 73% (593 of 817) of the top 15% highest paid vacancies required AI skills. This reflects a significant increase in the demand for AI talent over the past year. Businesses are now advertising a wide range of specialist roles such as Director of Artificial Intelligence and Products, Generative AI Solutions Architect, and Machine Learning Engineer.
Furthermore, 28% of all IT job openings now require AI skills, either named in the job title or as part of their primary requirement. This need for AI skills increases further in the higher salary brackets. Research from Oxford University and the University of Copenhagen suggests that workers with AI skills can add an average 21% skill premium to their salary.
Mary Alice Vuicic, chief people officer at Thomson Reuters, shared insights on the rapidly increasing demand for AI talents. "Across corporates and the professions, the demand for AI talent is continuing to accelerate at a remarkable pace," Ms Vuicic stated. "Companies are now required to not just embrace change, but to actively participate in shaping and directing it. As they begin to implement these emerging technologies, they're investing in the right talent to lead that process."
Vuicic also emphasised the need for businesses to establish trust across their teams and foster an understanding and knowledge of AI. She suggests that recognising the benefits of AI and its impact on the workplace will facilitate the creation of a conducive learning environment within organisations. This will ensure effective AI adoption.
According to the 2024 Generative AI in Professional Services report by Thomson Reuters, more than half (54%) of professionals in corporations, law and accounting firms, and government agencies believe GenAI should be integrated into their work. However, only 16% believe it should not. "By removing the more repetitive and administrative elements of certain jobs, AI presents the opportunity to boost productivity for high-skilled workers as they can focus on more valuable tasks," Vuicic explained. She also added that it's crucial to bring in the right expertise to ensure smooth scaling of implementation to all parts of the business and provide necessary training and skills development for existing staff.
