Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

72% of UK firms face skills gaps, turn to AI and upskilling amid £275m productivity loss

by September 13, 2024
September 13, 2024
72% of UK firms face skills gaps, turn to AI and upskilling amid £275m productivity loss

The skills gap in the UK continues to widen, with 72% of companies reporting shortages in critical areas such as AI, data analytics, and cybersecurity—up from 69% in 2023, according to DocuSign’s Digital Maturity Report 2024.

As a result, businesses are increasingly turning to ‘quiet hiring,’ upskilling their current employees, and deploying AI tools like ChatGPT to bridge the gaps without increasing headcount. The number of firms using AI to address skills shortages has surged by 42% this year.

Despite substantial investments in digital transformation, UK firms are still grappling with productivity challenges. Employees are reportedly spending an average of two days a week on manual, low-value tasks, costing businesses over £275 million annually in lost productivity. This inefficiency is also contributing to employee dissatisfaction, with 41% considering leaving their jobs due to outdated processes.

While 35% of companies plan to ramp up their investment in AI over the next year, only 43% feel fully equipped to implement these technologies, citing concerns around security and data protection as major obstacles. Nevertheless, enhancing efficiency through AI and digital tools remains a top priority, as firms strive to align their technology investments with improved productivity outcomes.

Sheila Flavell, COO of FDM Group, highlighted the urgency for businesses to support their AI investments with robust skills training. “With AI advancing rapidly, businesses are investing more to stay competitive. However, it’s crucial for companies to provide high-impact skills training to help their staff keep pace with evolving technology. Upskilling in AI, data analytics, and security ensures they have the talent needed to drive digital transformation.”

Flavell emphasised the importance of experiential learning in upskilling efforts, enabling employees to gain hands-on experience with new technologies. “This approach not only boosts productivity but also reduces the reliance on ‘quiet hiring’ and helps retain top talent by offering real opportunities for growth,” she added.

As businesses navigate the challenges of a rapidly evolving digital landscape, the focus on upskilling and integrating AI solutions is set to play a pivotal role in closing the skills gap and enhancing productivity. However, for these initiatives to succeed, companies must also address security concerns and ensure their workforce is adequately prepared to leverage new technologies effectively.

Read more:
72% of UK firms face skills gaps, turn to AI and upskilling amid £275m productivity loss

0
FacebookTwitterGoogle +Pinterest
previous post
Smart Buildings Made Simple: The Power of Building Management Systems
next post
Housing crisis leaves 21 hopeful tenants battling for each rental property

You may also like

Mortgage affordability test scrapped by Bank of England

August 1, 2022

Hunt does not know if government can cut...

January 8, 2024

Artisan AI closes a $7.3M seed round to...

May 16, 2024

Markets rally as US court blocks Trump tariffs,...

May 29, 2025

Barclays bank payments restored following app outage

March 27, 2024

One in four UK business-owners have fast tracked...

June 7, 2023

Lloyd’s of London to give staff a £2,500...

September 8, 2022

Here’s Why Your Online Store Needs SafeOpt

November 10, 2022

The Best Technologies To Help You Make Your...

September 15, 2022

Getting to Know You: Brad Walker, founder of...

August 13, 2024

Mortgage affordability test scrapped by Bank of England

August 1, 2022

Hunt does not know if government can cut...

January 8, 2024

Artisan AI closes a $7.3M seed round to...

May 16, 2024

Markets rally as US court blocks Trump tariffs,...

May 29, 2025

Barclays bank payments restored following app outage

March 27, 2024

One in four UK business-owners have fast tracked...

June 7, 2023

Lloyd’s of London to give staff a £2,500...

September 8, 2022

Here’s Why Your Online Store Needs SafeOpt

November 10, 2022

The Best Technologies To Help You Make Your...

September 15, 2022

Getting to Know You: Brad Walker, founder of...

August 13, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Kash Patel torches ‘conspiracy theories’ about Bondi feud amid MAGA furor over Epstein files

      July 13, 2025
    • Trump defends embattled AG Pam Bondi, says ‘nobody cares about’ Jeffrey Epstein

      July 12, 2025
    • Bondi says all charges against doctor who allegedly destroyed COVID vaccines have been dropped

      July 12, 2025
    • Meet ‘China’s man in Lima’ who jetted over to US to collect trains donated by Biden admin

      July 12, 2025
    • Inside Dan Bongino’s tense meeting with White House officials over Jeffrey Epstein fallout

      July 12, 2025
    • Could Butler happen again? Former Secret Service agents weigh in on political violence in 2025

      July 12, 2025

    Categories

    • Business (8,456)
    • Investing (2,118)
    • Politics (16,018)
    • Stocks (3,205)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved