The previous yr has been a comparatively robust one for the tech sector and job stability, particularly hiring prospects, however there’s extra to the story inside this forever-churning market.
A brand new survey of 910 expertise professionals and employers, revealed by Cube, finds sturdy undercurrents of each short-term pessimism and long-term optimism for the tech job market. As well as, these working in artificial intelligence (AI) are way more assured of their profession prospects than different IT professionals. Surprisingly, tech professionals aren’t totally on board with generative AI (gen AI).
Additionally: How to level up your job in the emerging AI economy
These findings are based mostly on two separate surveys carried out by Cube. The primary was based mostly on responses from 520 totally employed U.S. expertise professionals, coupled with responses from 390 human assets professionals.
Many tech professionals are involved about their short-term prospects — 31% stay cautiously optimistic concerning the financial situations over the following yr, unchanged year-over-year. An equal share of tech professionals harbor pessimistic views. Youthful tech professionals, these aged 18 to 34, are the least more likely to maintain an optimistic view of the economic system, at solely 20%.
Actually, solely 4 in ten tech professionals specific confidence to find a brand new function that meets their expectations — a major decline from earlier years. Nonetheless, round 80% of tech professionals count on the tech business to proceed its development trajectory over the following 5 years, the survey reveals.
Additionally: 98% of small firms are using AI tools to ‘punch above their weight’
Relating to any downturns in tech hiring, “what we discovered tells a extra nuanced story,” the research’s authors defined. “As anticipated in a troublesome local weather, the financial outlook amongst tech professionals is extra adverse than in earlier years. Equally regarding, lots of them really feel their bargaining energy slipping away and are reluctant to take dangers.”
On the identical time, whereas fewer tech professionals really feel assured about discovering new roles, an rising quantity are nonetheless actively pursuing new job alternatives. This yr, 39% of tech professionals are engaged in job searches, up seven share factors from 32% in 2023.
As well as, the will to change employers has grown, with 67% contemplating a change this yr, in comparison with 60% final yr.
The survey additionally discovered that expertise professionals aren’t totally onboard with gen AI. “Total, tech professionals are hesitant concerning the adoption of AI instruments into their workflow,” the survey’s authors report.
Additionally: What is digital transformation? Everything you need to know about how technology is changing business
In line with the survey, “simply over a 3rd of tech professionals say that they by no means use gen AI instruments, a barely bigger portion than the 30% who use it at the very least as soon as every week.” That is primarily voluntary, as solely 8% say their firms limit its utilization. The age group most probably to make use of gen AI at the very least as soon as every week is the 18-34 group, at 38%.
40% of tech professionals consider that AI will considerably impression their work within the subsequent yr, whereas solely 8% predict it is going to don’t have any impression.
AI professionals are extra assured than different tech professionals when it comes to profession development. A majority of AI professionals, 58%, are assured about development, in comparison with solely 36% of different tech professionals.
It additionally seems like employers will likely be struggling to carry on to their expertise. A good portion of AI professionals, 73%, intend to vary jobs over the approaching yr, in comparison with 65% of common tech professionals.
Additionally: 3 ways to help your staff use generative AI confidently and productively
AI professionals are additionally gravitating in direction of the massive tech firms than their broader tech counterparts, No less than 29% of AI professionals need to work for large tech, in comparison with 18% of common tech professionals. “That is presumably resulting from an curiosity in being a part of higher-budget, larger profile AI initiatives or as a result of they really feel extra assured of their hireability normally,” the Cube authors surmise.
Delivering worth is one other matter inside mainstream firms — and sometimes, AI initiatives could be for positive. Simply over half of AI professionals really feel the AI initiatives they’re engaged on are strategically useful to their firm. One-third consider their AI-related initiatives are “primarily used to indicate stakeholders the corporate is doing one thing with AI.”
