Excerpt
The state of AI talent 2024
- Top AI talent’s relationship and expectations with Big Tech - also known as the Big Five.
- How the market is shifting. With sector growth disrupting the AI talent race, and health hiring top AI talent at the fastest rate
- The US is experiencing a shift in its once-unrivalled position in attracting and retaining premier AI talent
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Top AI Talents relationship and expectations with Big Tech
From the outside, it appears that Big Tech has high levels of hiring. But this is only due to these high churn rates and in reality though, Big Tech do not actually hire that big.
The Big Five has an 11.4 percent share of the overall talent market, making them a minority stakeholder.
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The health sector is hiring top AI talent at the fastest rate
The Harvard School of Public Health concluded that using AI to make diagnoses may reduce treatment costs by up to 50 percent and improve health outcomes by 40 percent.
As a result, we have seen that the cumulative hiring of AI talent in the health sector has increased 20-fold over the last 10 years.
Health sector companies are hiring top AI talent at the fastest rate of any sector whilst simultaneously forming partnerships with AI-first health companies.
Small companies hire 47 percent of top AI talent in the sector compared to 34 percent for large companies and 19 percent for middle-sized companies.
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The USA is losing its dominance in the AI talent race
Over the last ten years, the USA has attracted and retained twice as much top AI talent as it has supplied into the market, drawing talent from across the world, but in particular from Europe, Israel and Canada.
US Big Tech expansion created a surge in demand for top AI talent in 2015, and they played to win. This meant twice as many top AI scientists and engineers came to the USA than to leave in the last ten years.
This created a dislocation in the global market.
Major net losers of talent emerged, particularly the advanced economies of Europe, and a two-tier system of importers and exporters took hold.
Why is the market shifting away from US dominance?
A key factor driving this change is the rise of national champions—organisations that are successfully retaining talent and intellectual property within their borders.
Large enterprises account for 60% of the AI talent market, overshadowing US Big Tech’s 11.4%.
Significantly, companies like Google DeepMind, Siemens, Nokia, Philips, Ericsson, Samsung Electronics, and Tata Consultancy Services have become prominent recruiters of elite AI talent outside the United States, underscoring a pivotal shift in the global talent landscape.
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