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Businesses failing to prepare for rise of AI
UK self-employment rises above 15 per cent
The self-employed population in the UK has grown by a further 88,000 in the past three months, compared with last year. The figures show that there are now 4.85 million self-employed professionals working across the UK, amounting to more than 15 per cent of the nation’s entire workforce. The rise in self-employment has pushed unemployment levels across the UK to its lowest levels since 1975 at 4.3 per cent. The unemployment level has almost halved since 2010, with the total number of employees in the UK growing by 292,000, compared with the same period last year. This means the UK now has over 27 million employees, demonstrating a strong labour market. However, self-employed individuals are the only facet of the British workforce to experience a significant uplift of income in terms of hourly rate growth. The average hourly rate soared by almost 27 per cent between 2010 and 2015, compared with a
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4.52 per cent rise for full-time employees. Tom Purvis, political and economic adviser at the Association of Independent Professionals and the Self-Employed, says: “The latest figures show the continuing strength and success of the UK labour market. This success can be attributed to more and more people opting to become self-employed. “Being self-employed can be hard work, but
research has shown that the majority enjoy what they do. “Our research shows that when people make the decision to go self-employed, very few would consider giving it up for a job where someone else is your boss. “At a time when the UK economy has to navigate its way through EU negotiations, it is imperative that we continue to promote a flexible UK labour market. It has been responsible for almost half of the recent growth in the labour market as a whole and this development needs to be supported.”
The majority of businesses are unprepared for the rise of artificial intelligence (AI) in the workplace, according to a poll of over 2,000 senior HR professionals carried out by Alexander Mann Solutions. In its survey, the global talent acquisition and management specialist found that just 23 per cent of senior HR professionals believe that companies are preparing the next generation for the rise of AI, despite the fact that 69 per cent think that it is very likely that we will see humanoids in the workplace by 2030. When quizzed on what skills businesses should be developing to enhance the potential of AI, 36 per cent cited adaptability to change, 22 per cent said creative skills were most important, while 18 per cent believed IT and technical skills should be prioritised. Laurie Padua, director of technology and operations consulting, says: “According to Accenture, AI has the potential to add an estimated £654billion GBP to the UK economy by 2035. However, the potential of any intelligent software is limited by the human talent responsible for commissioning, implementing and managing it. “The successful implementation of effective systems relies on strong strategy and delivery. With this in mind, it is crucial that HR teams put in place strategic workforce plans to ensure that they not only have access to requisite technical skills, but also focus on investing in talent with adaptable core competencies that are currently difficult to recreate in machines, such as creativity and communication skills.
“HR strategists must become accustomed to upskilling existing teams and planning future workforces with robots in mind, but there will be no cliff-edge of job losses as AI replaces human workers. Instead, the roles of real-life employees will develop so that we will work alongside robots to become more efficient and productive, and innately human traits will become more valuable than ever before.”
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