2024 landscape for hiring within tech

Coming out of the pandemic, the tech market has experienced a lot of volatility. Firstly, there was a hiring boom in 2021 and into 2022. Towards the end of 2022 and into 2023 big tech companies began to do mass layoffs, putting the tech job market into a downward spiral. As we step into 2024 the landscape of hiring in the UK is poised with more hope than there was 12 months ago, largely due to the advancements in artificial intelligence. We anticipate a surge in upskilling and reskilling in 2024 in order to bridge the skill gap and meet evolving demand for the tech industry. Employers are likely to to invest in training programs and partnership with educational institutions to equip their employees with the latest technical skills and knowledge.

Sectors that continue to grow:- fintech, workplace tech and healthcare.

Fintech revenues are expected to grow x3 faster than traditional banking with Boston Consulting Group projecting that Fintech is expected to become a $1.5 trillion industry by 2030. With companies now turning to a hybrid model or fully remote work, it now calls for the use of digital workspace tech, something that really wasn’t a thing 5 years ago. In the last 5 year the use of Ai has more than doubled. Since the global pandemic the healthcare sectors has accelerated. New technologies that minimise in person interaction, improve patient care and streamlining the healthcare operations are to name a few ways this sector has boomed over the last few years, and it is only continuing to grow.

As mentioned throughout the expansion and demand of Ai isn’t going to be slowing down anytime soon. Along with this demand for Ai come many concerns, mainly concerns about job security, although it has taken some jobs it has created nearly 97 million new roles especially in areas when there is still a need for physical skills.

In addition to the dynamic landscape of hiring and technological advancements, another noteworthy trend in the tech industry for 2023 was the accelerated adoption of augmented reality (AR) and virtual reality (VR) technologies across various sectors. These immersive technologies gained significant traction not only in gaming and entertainment but also in education, training, retail, and even healthcare. The pandemic highlighted the potential of AR and VR in enabling remote collaboration, virtual events, immersive training simulations, and enhanced customer experiences. Companies invested heavily in developing AR/VR applications to meet the evolving demands of consumers and businesses alike. With the continuous innovation in hardware and software, coupled with the growing accessibility of AR/VR devices, we witnessed a surge in demand for skilled professionals proficient in developing and implementing these technologies. As we move forward into 2024, AR and VR are expected to play an increasingly pivotal role in shaping the way we interact with digital content and the physical world, driving further innovation and opportunities across various industries.

The tech landscape for 2024 brims with excitement, presenting a plethora of opportunities alongside unique challenges. Armed with a deep understanding of both the potentials and constraints of emerging technologies, individuals and organisations can chart a course poised to capitalise on the forthcoming advancements. Embracing this knowledge empowers us to navigate the future effectively, maximising the potential of what lies ahead.