Is AI permanently changing the job market?
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Artificial intelligence (AI) is transforming industries across the globe, and the UK is no exception. With rapid advancements in AI, the job market is facing both challenges and opportunities as businesses adapt to these new technologies. According to a recent survey by TeamViewer, while 74% of UK executives believe AI will significantly boost productivity by automating tasks and streamlining workflows, only 10% of businesses have fully implemented generative AI, with 69% of top business leaders making it a priority for 2025. As AI continues to grow, it is essential to understand how these changes are reshaping employment across different fields.
Certain industries, such as finance, healthcare, and retail, are seeing significant changes due to AI integration. In finance, AI is being used for algorithmic trading, fraud detection, and even powering customer service chatbots. In healthcare, AI is playing a crucial role in diagnostics and predictive analytics, helping improve patient outcomes. Meanwhile, in retail, AI is enhancing personalised marketing and inventory management. Despite these improvements, there are growing concerns about job displacement and the skills required to thrive in an AI-driven world.
The potential impact of AI on employment is not limited to specific sectors; it affects the entire workforce. While AI can handle repetitive and data-driven tasks, it also requires workers to adapt by developing new skills. Many roles that are based on routine processes are at risk of automation, but AI also creates opportunities for new job categories, particularly in areas like data science, machine learning, and AI ethics. This dual effect makes it crucial for workers to focus on upskilling and reskilling to stay relevant in an AI-influenced job market.
“AI has really changed the job landscape.”
During a recent UK Market Update, Managing Director Liz J. , and Senior Recruitment Consultant Maddy Laing , discussed the impact of AI on the job market and how it has changed employment dynamics across various sectors. The conversation highlighted both the benefits and the challenges posed by the rise of AI in the workplace.
Maddy Laing shared how AI has made a significant impact on industries, noting, "AI has really changed the job landscape. It's taking over repetitive tasks and streamlining workflows, bringing more data-driven decisions into play across different industries." She elaborated on how finance, healthcare, and retail have all benefited from AI advancements. In finance, for instance, AI is used for algorithmic trading and fraud detection, while in healthcare, it assists with diagnostics and monitoring patients.
UK vs. NZ Employment Trends: Predictions for 2025
The employment landscape is undergoing significant shifts globally, with regions like the UK and New Zealand experiencing both challenges and opportunities. Economic uncertainty, shifting workforce expectations, and the continued evolution of workplace norms have shaped the outlook for 2025. Employers and job seekers alike are navigating this landscape with cautious optimism, leveraging trends and adapting to the ongoing changes.
In New Zealand, the job market has seen a significant contraction. Job vacancies in Wellington, for example, dropped by a striking 49% in the year to September 2023. This reflects the challenging conditions in the region as businesses cautiously approach hiring decisions. The UK, meanwhile, has shown some positive indicators, with a recent uptick in business and consumer confidence. However, this improvement remains fragile, underscoring the continued unpredictability of the market.
While some sectors, such as healthcare and technology, show resilience, others face headwinds due to inflation, supply chain challenges, and shifting global priorities. The evolving nature of workplace flexibility and hybrid work models further complicates the landscape, creating both opportunities and challenges for businesses and job seekers alike. As we prepare for 2025, understanding these dynamics and adapting accordingly will be crucial for success.
“The market isn’t booming, but with the right strategies, opportunities can be found.”
During a recent UK Market Update, hosted by Managing Director Liz J. , was joined by NZ Principal Consultant Mark Smith , and shared valuable insights into the employment challenges and opportunities in both the UK and New Zealand. They examined how global and regional factors are influencing hiring trends, workforce expectations, and market stability.
Mark highlighted the unique challenges facing the New Zealand market. “In Wellington alone, job postings dropped by 49% year-on-year,” he shared. Despite this, there are signs of recovery, though the... [ Read full insights here ]
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