Interest in AI and the Job Market
Interest in AI has been on the rise since the launch of Open AI’s ChatGPT in November 2022. While AI technology is not new, its roots can be traced back to the early days of computing.
The UK currently boasts an AI workforce of over 360,000, with the AI tech market valued at around £16bn. According to the US International Trade Administration, this market is projected to exceed £760bn by 2035.
The Growth of AI in the UK
Britain leads in AI technology within Europe, with twice the number of AI-based companies compared to any other European nation. The number of AI companies in the UK has surged by 688% over the last decade, reaching approximately 3,170 in 2022.
Recent government research shows that about one in six UK organizations have adopted at least one AI technology. Despite this growth, there was a notable gap between industry advancements and end-user awareness until recently.
The Rise of Workplace AI
Recent data from Slack’s global Workforce Index reveals that workplace AI usage in the UK has increased by 66% since September 2023, with an additional 18% growth since the beginning of 2024. Furthermore, 44% of UK office workers are eager to incorporate AI into their daily tasks.
Many employees are leveraging generative AI for various purposes, including email creation, marketing campaign planning, information research, and data analysis. Moreover, a survey conducted by HR firm Beamery found that 46% of UK workers are using generative AI for job searches and applications.
The Smart Use of AI in Job Searching
UK fintech company Monzo advises job seekers on the effective use of AI tools in the job application process. While AI can be beneficial, Monzo emphasizes the importance of maintaining a human-centric approach to hiring.
Monzo recommends utilizing AI for information gathering, research, and interview preparation. However, the company cautions against copying answers from AI tools and emphasizes the significance of showcasing one's unique work and experience during the application process.
It is crucial not to rely solely on AI for job applications and interviews, as human input and authenticity are key elements of the hiring process. AI tools should be used as aids rather than replacements for genuine effort and skills.
Monzo summarizes this approach by stating, “Refine, not replace” when using AI in job applications—a valuable principle to abide by during the job hunting process.
