Introduction
Technology workers are increasingly in demand across industries not traditionally associated with tech. A significant factor driving this trend is the rise of artificial intelligence (AI), as highlighted in a recent report by CBRE, the world’s largest commercial real estate services and investment firm (link).
AI’s Impact on Hiring
For the first time, non-tech sectors are hiring more tech workers than traditional tech companies. The integration of AI into various business processes is a major catalyst for this shift. According to Colin Yasukochi, the lead author of the report, AI-related job postings have increased from 9% in late 2019 to over 14% today.
Growth in Tech Employment
In 2023, tech employment grew by 3.6%, a decrease from the 7.3% growth in 2022. Despite this slowdown, non-tech sectors are expanding their tech workforces at a faster rate. For instance, the transportation, warehousing, and wholesale sectors increased their tech workforce by over 18% last year.
Understanding Tech Talent
CBRE’s analysis includes over 20 tech-related occupations, encompassing both software and hardware roles. The report ranks 75 North American markets based on various factors, including workforce size, growth, wages, and innovation infrastructure. San Francisco and Seattle continue to lead as top tech talent markets, with other cities like Toronto and Austin also making significant gains.
The Role of AI in ‘Creative Destruction’
AI is poised to bring about changes similar to those introduced by personal computers and mobile applications. While some jobs may become obsolete, others will be enhanced or newly created. Adapting AI to improve efficiency and productivity is expected to benefit workers significantly.
Concerns and Opportunities
Despite the potential benefits, there are concerns about job displacement. A Gallup survey found that 22% of workers fear their jobs may become obsolete due to AI advancements (link). However, experts like Molly Kinder and Anton Dahbura suggest that while some disruption is inevitable, the future may not be as bleak as feared. They emphasize the ongoing need for human skills, albeit in different capacities.
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