2024 has been a tough year for job stability in the tech sector. Job cuts have hit the industry, with online tracker layoffs.fyi reporting over 140,000 employees laid off from 470 tech companies by October 2024.
Yet it is not all doom and gloom. Despite economic concerns, with AI developments, technology professionals should be confident about the future. The 2024 Tech Sentiment Report, says that 70% of HR professionals expect an increase in tech hiring. This optimism is strong around AI advancements and machine learning (ML), which will experience significant growth in the coming years.
With an urgent need for modern tech skills such as AI and automation, there are plenty of ways to capitalise on the demand for AI talent. As sectors continue to invest in AI and ML tech, the demand for skilled specialists is growing. This demand creates a lucrative opportunity for tech professionals to capitalise on their expertise by moving into AI or ML roles.
AI jobs pay more
HR professionals find recruiting AI talent difficult due to a knowledge gap and the competitive nature of the AI job market. As a result, salaries for AI roles have surged, making these skills valuable for tech professionals. A Biz Report study found that AI-related jobs offered 77% higher salaries than other occupations. The pay gap between tech and other jobs has widened by 36% due to AI. At the end of 2023, almost a third of all tech jobs were AI-related, the AI Influence on US Workforce Salaries - Biz Report study found.
High-demand positions
Companies seek AI expertise to remain competitive. AI Tech Sentiments - Tech Sentiment Report (AI) highlights that 46% of HR professionals are recruiting for AI roles. 82% anticipate higher demand for AI professionals in the next six months. The demand for professionals with expertise in AI, machine learning, cybersecurity, and data science remains strong.
New tech jobs
Generative AI is reshaping job requirements and creating new tech roles. The World Economic Forum's white paper, Jobs of Tomorrow: Large Language Models and Jobs, highlights three new areas: AI trainers, explainers, and sustainers. While AI trainers carry out behind-the-scenes work, AI explainers will make AI easy to use for the public. Explainers will design the interfaces that enable people to interact with AI. Sustainers will ensure AI systems are used in the best way.
New roles include
- Head of AI to guarantee that AI integrates with business goals
- Machine learning engineers ensure that AI is developed and deployed through robust algorithms
- Data curators ensure large language models (LLMs) have the best data going into them
- AI ethicists ensure that AI is ethical, addressing bias and transparency
- AI and cybersecurity researchers develop methods to protect systems from AI-driven threats
- AI protection analysts protect a company's IP
- Responsible use architects prevent abuse or fraud
- AI solutions analysts implement AI to solve business problems
Data science, AI, and cybersecurity roles have all grown in demand. Dice reports that machine learning engineers and AI specialists are particularly high-demand positions. This reflects a trend in companies seeking AI expertise to remain competitive.
Building a strong personal brand and networking in your field can make you indispensable. By staying flexible and proactive, you can navigate the evolving job landscape and secure your career’s future.
How to upskill for new AI roles in tech
Experience with cloud computing platforms, big data technologies, and IoT is also becoming important. To future-proof your career in the age of AI, focus on continuous learning and adaptability. As more companies adopt AI and machine learning technologies, there is a need for people who can develop and implement these solutions. Programming languages such as Python and R are high on the radar.
Hiring managers hate turning away a multiskilled tech candidate in a skills-short market. While being a tech generalist has merits, specialisation can make you indispensable, earn more, and set you apart. Specialising in an area can open up lucrative IT contract opportunities.
Identify niche areas that are in high demand and align with your interests. This could be:
- cybersecurity
- cloud computing
- data science
- blockchain development
- machine learning
- DevOps
- robotic process automation (RPA)
- specific sector software development
NLP technology
As chatbots and translators become more developed, more areas need NLP (Natural Language Processing) technology. NLP is an exciting and evolving subfield of AI. It focuses on the interaction between computers and human language. Learn core concepts of NLP by
- Mastering Python and relevant libraries (e.g. NLTK, spaCy, Hugging Face).
- Understanding maths, including linear algebra, probability, and stats.
- Explore machine learning with courses on platforms like Coursera, edX, or similar.
- Work on real-world projects. This could include building chatbots.
ERP systems
Key trends such as automation, cloud, and AI are shaping the future of ERP systems. Modern systems are incorporating these advanced technologies. Continuous learning and staying abreast of the latest technological advancements are essential in this evolving field.
Enhance your soft skills
Tech professionals need technical and soft skills to manage and implement IT systems. AI can perform many tasks faster and better than humans but cannot replace the human touch. Soft skills are essential for building trust, rapport, and stakeholder loyalty. They are also difficult to automate or replicate by machines. Develop skills that AI struggles to emulate, including creativity, critical thinking, and emotional intelligence (EI).
AI is evolving and improving, so follow the latest trends and developments in your field. The rapid growth of AI technologies creates new opportunities for tech professionals, making AI skills more essential and rewarding in the job market.
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