Indeed, Artificial Intelligence (AI) is garnering huge amounts of attention. Robotics, generative AI, automation and the ever-growing list of opportunities are keeping us at the edge of our seats.
But there remains a significant barrier to its widespread adoption: the talent crisis.
We can all agree that AI is revolutionising industries across the planet, promising a world of new possibilities and novel ways of working. Whether it’s healthcare, finance, manufacturing or retail, AI offers vast transformative potential.
And it’s definitely here to stay.
According to Statista, the global AI market size will grow from nearly £100 million to over £1,48 trillion by 2030.
Let’s take a quick dive into the shortage of tech talent, the crucial role it plays in AI adoption, and present our solution to break through these barriers.
The Shortage of Tech Talent
The demand for tech talent is skyrocketing.
There’s a growing need for expertise in data and ML engineering, software engineering, cloud and data science.
And it’s left a significant talent gap that slows progress and harms innovation, ultimately preventing businesses from effectively adopting AI.
However, in today’s fast-paced digital landscape, the shortage of these skilled professionals has reached critical levels:
- The global IT talent shortage is projected to cost companies worldwide £1,48 trillion in unrealized annual revenues by 2030.
- According to a report by Gartner, 64% of new technologies face barriers due to talent shortage, indicating that the lack of suitable workers is a significant hindrance to the adoption of new tools and technologies.
- In a ManpowerGroup Talent Shortage survey, 77% of employers reported difficulty in filling tech roles, which is a 17-year high.
The talent crisis continues to impact the tech industry, with the demand for qualified individuals to support the work outweighing the supply.
Which poses a major obstacle to organisations seeking to adopt AI technologies.
Why You Need Tech Talent for AI Adoption
For AI to work, you need the right tech talent.
Those incredible benefits and features that AI offers can be summed up as only the tip of the iceberg. Only the magnificent peak that we see from the outside.
Deep beneath, there’s a massive ecosystem of complex moving parts that are orchestrated by teams of engineering experts. And these highly skilled experts understand the intricacies of data, ML, software and cloud engineering.
Under the hood, you still have to develop, implement, and maintain these AI systems. As well as ensure their ongoing performance and optimisation.
Essentially, the success of your AI initiatives is heavily reliant on the expertise of tech talent in very niche areas. Without the right talent, businesses find themselves with this inability to make their AI work.
They struggle to unlock the value hidden within their data. And they fall behind their competitors who successfully utilise AI and flaunt their competitive edge.
The Impact of the Talent Crisis
The talent shortage has an ongoing impact on the world as we know it.
In a Korn Ferry study that analysed talent supply and demand in 20 economies across the world, it was found that by 2030, there will be a global human talent shortage of more than 85 million people.
Which is roughly equivalent to the population of Germany.
To top it off, the shortage could result in about $8.5 trillion in unrealized annual revenues. Then, according to Gartner, 64% of businesses believe that talent shortage is the biggest barrier to the adoption of new technologies.
The shortage of skilled talent not only affects hiring budgets and deadlines, but also:
- Stifles innovation
- Limits business expansion
- Hinders the successful implementation of AI and ML projects
Our Solution: Outsource the Talent (with Us)
It sounds like it’s all downhill from here, right?
Wrong. Organisations need to dig deep and explore various solutions to overcome the various barriers to AI adoption.
And one effective strategy is to outsource tech talent.
Especially from a professional service provider like us. At Teraflow, we recognise the urgent need to bridge the talent gap and provide businesses with access to top-tier cloud, data, ML and software professionals.
Partnering with us means you gain access to a diverse talent pool of skilled data and machine learning engineers, cloud architects and software developers.
We have agile, a-player teams with extensive experience in tackling complex AI challenges across a variety of industries. Aviation, banking, logistics – you name it.
Here’s how outsourcing talent with us can break through the barriers to AI adoption:
Access to Expertise
Our team consists of highly skilled data and ML engineers who have expertise in implementing AI solutions across various industries. By outsourcing the talent, organisations gain access to a pool of experts who help guide, mentor and support them through every stage of the AI adoption journey.
Flexibility and Scalability
Outsourcing tech talent allows businesses to scale their AI initiatives without the constraints of hiring, training, and managing an in-house team. We provide a flexible workforce that can be scaled up or down based on the project’s requirements, ensuring cost-efficiency and agility.
Faster Time to Market
With a shortage of skilled talent internally, AI initiatives often face delays in implementation. By outsourcing talent, organisations can accelerate their time to market as we have a readily available team equipped to tackle AI projects promptly and efficiently.
Mitigating Risks
AI implementation involves inherent risks, such as algorithm failures and technical infrastructure challenges. Our teams understand these risks and employ robust methodologies to mitigate them effectively, minimising potential disruptions and maximising the success of AI adoption.
Don’t let the lack of talent hold you back. Partner with us and break through the barriers to AI adoption.
Get in touch today.
