AI or Die? Steven George-Hilley of Centropy PR Discusses Artificial Intelligence’s Impact On The Graduate Jobs Market

As employers rapidly increase the use of artificial intelligence technologies, University graduates in the UK face the toughest job market since 2018. FE News spoke with Steven George-Hilley, founder of global tech comms agency Centropy PR about how AI is transforming the personal and professional lives of the next generation.

Many companies see AI as a cost-cutting tool, what impact will this have on the UK jobs market?

We’re in the midst of a very tough trading environment, with the Chancellor’s National Insurance (NI) rises hammering businesses, particularly those with large workforces. On top of these we have historically high interest rates, sticky inflation and a cost-of-living crisis hitting people hard.

Against this backdrop, it’s no wonder businesses are looking to reduce overheads, and for many CFOs, AI is the ultimate tool for achieving their financial objectives. The technology can already replace many manual tasks, including copywriting, content creation, design and coding.

In tough times, businesses become more ruthless as ultimately, they answer to shareholders and investors. So, cost-saving is a key driver of rapid AI adoption, but the consequence for the new graduates is severe.

Just how bad is the market for graduates right now?

It’s no secret that young people have been dealt a very bad hand. Many hardworking graduates who are keen to get a foot on the career ladder will now find themselves competing for a greatly reduced number of jobs.

Recent data has shown that the number of roles advertised for new graduates is down 33% compared with last year. The numbers make grim reading, with overall job postings 5% lower compared with the end of March.

There’s no escaping the fact that AI will continue to have a massive impact on many jobs, across all sectors and professions. The IMF has estimated that 60% of jobs in advanced economies such as the UK and US are exposed to AI, and that half of these jobs will be affected in a negative capacity.

What can young people do to differentiate themselves when applying for a job?

The obvious answer is to study specialist courses in AI and data analytics. Many companies investing heavily in this area will be seeking highly qualified experts to manage the technology. AI brings with it all sorts of business challenges, from ethics, compliance issues to data security risks. So, businesses need AI experts to make their investment worthwhile.

The other strategy should be to emphasise the skills you offer that AI cannot. People skills, team management, and the ability to think creatively will all be in heavy demand, especially in an algorithm-dominated office environment.

Your skills and qualifications are certification of your commitment to working hard and going the extra mile. However, employers are looking for much more than just your degree, so ensure you show them the energy and enthusiasm you can bring to their business.

Steven George-Hilley is co-founder of Centropy PR, a global tech communications firm with offices in San Diego and London.