These types of jobs are in high-demand in the UK right now – and you don’t need a degree
AI is sprinkling stardust on UK employees and sectors that are best able to use the technology and is starting to reshape the job market.
This was the key finding of a new report published by professional services firm PwC . The report is based on an analysis of close to a billion job ads and thousands of company financial reports from six continents and covers from 2018-2014.
The data shows that workers in ‘exposed sectors’ (where AI can be readily used for some tasks) are more productive and able to command higher wage premiums.
Industries most exposed to AI have three times higher growth in revenue per employee compared with the least exposed industries, PwC said.
Although factors beyond AI are contributing to these results, the findings also show that growth in revenue per employee for AI-exposed industries surged when large language models such as GenAI became mainstream.
Revenue growth per employee has nearly quadrupled in industries most exposed to AI (such as software), rising from 7% between 2018 and 2022 to 27% between 2018 and 2024.
By comparison, revenue growth per employee in industries least exposed to AI (such as mining and hospitality) fell slightly, from 10% between 2018 and 2022, to 9% between 2018 and 2024.
In turn, wages are growing twice as fast in AI-exposed industries, PwC said. This includes for jobs that are classed as ‘automatable’ (i.e. the job contains some tasks that can readily be automated).
The highest premiums are attached to occupations requiring AI skills, with an average premium in 2024 of 11% for UK workers in these roles.
The UK market
In the UK, despite a weakening labour market in 2024, the share of job postings requiring AI skills has increased significantly since the previous year.
Sectors including Information and Communication, Financial Services and Professional Services have seen a substantial rise in job postings requiring AI expertise, PwC said.
However, looking beyond roles requiring AI skills, job openings in AI-exposed occupations have been growing at a slower pace than for less exposed jobs, the firm said.
Between 2019-2024, more exposed occupations saw cumulative growth in vacancies of 12%, compared with 50% for less exposed occupations. The gap has expanded over time, particularly since the advent of GenAI in 2022.
“There are still many unknowns about AI’s potential. By highlighting a correlation between industries that are using AI the most and revenue growth, job vacancies, and wages, our findings offer a signal of what AI could deliver,” said Umang Paw (Chief Technology Officer at PwC UK).
“AI can provide stardust to those ready to adapt, but risks leaving others behind. A concerted effort is needed to expand access to technology and training to ensure the benefits are widely shared. In the Intelligence Age, the fusion of AI with technologies like real-time data analytics and businesses broadening their products and services will create new industries and fresh job opportunities.”
Skills churn and degree requirements
PwC’s data shows that AI is creating rapid change in the skills workers need to succeed in the workplace, with candidates now more likely to need to operate AI tools and demonstrate abilities such as critical thinking and collaboration.
In occupations most exposed to AI, the skills sought by employers are changing 59% faster than in occupations least exposed to AI. In the UK, jobs exposed to automation in the health and social sector have experienced the highest net skill change of any sector.
What it takes to succeed in AI-exposed jobs is changing in other ways. In the UK (and globally), employer demand for formal degrees is declining for the most exposed and least exposed jobs, but especially quickly for AI-exposed jobs.
The percentage of AI-exposed jobs that require a degree fell from 64% in 2019 to 56% in 2024, showing a potential shift towards skills-based hiring.
“AI is reshaping the jobs market – lowering barriers to entry in some areas while raising the bar on the skills required in others,” said Phillippa O’Connor (Chief People Officer at PwC UK)
“While degrees are still important for many jobs, the reduction in degree requirements suggests employers are looking at a broader range of measures to assess skills and potential. Continuous learning to broaden skills, including AI and technology skills, will be more important than ever,” she said.
