Search Results for: economic

Office market upheaval means uncertain times for landlords

Office market upheaval means uncertain times for landlords

by • News, Property

The UK office market is facing a period of significant upheaval, according to a new survey commissioned by workspace provider infinitSpaceThe UK office market is facing a period of significant upheaval, according to a new survey commissioned by workspace provider infinitSpace. The research paints what it says is a concerning picture for landlords, with a sizeable portion battling financial strain and even potential closure. Over 14 percent of the 250 surveyed landlords fear their office buildings could shut down within the next five years due to affordability concerns. More →

AI could save the public sector millions of hours of time each week, claims report

AI could save the public sector millions of hours of time each week, claims report

by • AI, News, Public Sector

A new report from Microsoft argues AI could save more than four hours per week on administrative tasks - per staff member across all public sectorsA new report commissioned by Microsoft claims that the scale of administration required of the UK’s public sector is drawing front line workers away from delivering frontline services, and impacting the motivation, engagement and even mental health of large proportions of the public workforce. The research, developed by Dr Chris Brauer, Director of Innovation at Goldsmiths University and Symmetry features in a new report from Microsoft, ‘Harnessing the Power of AI for the Public Sector‘ and argues AI could save more than four hours per week on administrative tasks per staff member across all public sectors. More →

Europe lacks skills in key technologies such as AI, quantum and space

Europe lacks skills in key technologies such as AI, quantum and space

by • AI, News, Technology

Critical gaps have formed across the technology sector in Europe, with skills, investment and innovation being stunted in vital areas such as AI, quantum computing and space technologyCritical gaps have formed across Europe’s technology sector, with skills, investment and innovation being stunted in vital areas such as AI, quantum computing and space technology, according to a report from DIGITALEUROPE. The study titled ‘The EU’s Critical Gap: Rethinking Economic Security to Put Europe Back on the Map,’ claims that Europe is significantly lagging in key technologies. Among 8 technologies that were analysed, Europe was shown to be lagging behind in 7, only leading in advanced connectivity, with major investments and profits in this sector are being led primarily by the US. More →

Two in five people say they aren’t paid enough to make ends meet

Two in five people say they aren’t paid enough to make ends meet

by • News, Workplace

A new report from Indeed, released two weeks ahead of the UK General Election, suggests that more than 2 in 5 (42 percent) Brits are struggling to make ends meet. According to the survey of over 2,000 British people, those in the North East of England feel most comfortable, with less than a third (32 percent) struggling, while almost half (48 percent) of those in Scotland say their pay isn’t keeping pace.  More →

UK continues to trail behind in business investment. Incoming government won’t solve that

UK continues to trail behind in business investment. Incoming government won’t solve that

by • Business, News

A new report from the Institute for Public Policy Research (IPPR) says that the UK holds the lowest investment rates among G7 nationsA new report from the Institute for Public Policy Research (IPPR) says that the UK holds the lowest investment rates among G7 nations. The data indicates that for the third consecutive year, business investment in the UK has lagged behind its G7 counterparts. The nation also ranks 28th out of 31 OECD countries, trailing behind economies such as Slovenia, Latvia, and Hungary. More →

Most people feel disengaged from their work, but managers can still make all the difference

Most people feel disengaged from their work, but managers can still make all the difference

by • News, Workplace

The percentage of employees who feel an engagement with their work is at a record high. But, the majority of employees are still not engagedEmployee engagement worldwide has remained steady according to  the latest edition of Gallup’s State of the Global Workplace report. The good news, according to the authors, is that the percentage of engaged employees – those enthusiastic about their work – held at a record high of 23 percent from 2022. However, the bad news is that the majority of employees are still not engaged (62 percent) and just show up to do the minimum, while a significant number (15 percent) are actively disengaged, meaning they dislike their jobs and managers and are looking to leave. More →

GenAI is already driving down demand for freelancers

GenAI is already driving down demand for freelancers

by • News

New research from Imperial College, Harvard and the German Institute for Economic Research looks at the impact of GenAI technologies on the demand for freelance creative professionals The demand for freelancers working in writing, and coding related jobs has dropped by 21 percent since the launch of ChatGPT in November 2022, according to new research by Imperial College Business School, Harvard Business School and the German Institute for Economic Research. This research paper, Who is AI Replacing? The Impact of Generative AI on Online Freelancing Platforms, looks at the impact of GenAI technologies on the demand for creative professionals who work on an hourly basis for different clients. More →

London office market sees sharp decline in leasing activity

London office market sees sharp decline in leasing activity

by • News, Property

The London office leasing market kicked off 2024 with a significant downturn, according to a new report from Devono.The London office leasing market kicked off 2024 with a significant downturn, according to a new report from Devono. After a strong end to 2023, leasing activity plummeted by 45 percent in the first quarter, with only 2.3 million sq ft of space leased. This falls short of the 5-year average for Q1 and marks the lowest total since late 2022. The report attributes the decline to a combination of economic factors, including a recent recession and rising inflation. Businesses are cautious about committing to new office space in this uncertain climate. More →

A brief history of the future of work

A brief history of the future of work

by • Features, Flexible working, Technology, Working culture

The future of work has always existed but never arrives. It is best seen as a way of thinking about current and emerging issues The past few years and our current predicaments should serves as a reminder of that tragic, unchangeable feature of the human condition, best expressed by Kierkegaard, that we are doomed to live our lives forwards but only understand them backwards. Retrospect is particularly important when we look back on sudden, large changes that knock us off our normal path. It’s important to remember this as we continue to grapple with the nature of the present and future of work in the wake of the pandemic. More →

People must take the lead on hybrid working to drive highest returns

People must take the lead on hybrid working to drive highest returns

by • Flexible working, News, Technology

A new report from workplace technology provider Eptura suggests that employee-led hybrid working models and connected technology drive the highest returns for businessesA new report from workplace technology provider Eptura suggests that employee-led hybrid working models and connected technology drive the highest returns for businesses. According to its first half 2024 Workplace Index report [registration], companies with hybrid working models in which employees can choose when to come to the office are seeing the most benefit. This is because employees who work effectively in the office can generate an average revenue increase of 3-8 percent. The study also claims that globally, employees are now spending an average of 3 days a week in the office, with the biggest increase being seen in the Asia-Pacific region. The most common days for office attendance remain Tuesday through Thursday. More →

MIT professor pours cold water on the prevailing hype about AI and the economy

MIT professor pours cold water on the prevailing hype about AI and the economy

by • AI, News, Technology

A study by MIT economist Daron Acemoglu appears to challenge the prevailing optimism surrounding artificial intelligence (AI) and its economic impactA study by MIT economist Daron Acemoglu appears to challenge the prevailing optimism surrounding artificial intelligence (AI) and its economic impact. While many experts predict a future fuelled by AI-driven productivity booms and reduced inequality, Acemoglu’s research paints a more cautious picture. His findings suggest that AI’s impact on productivity and inequality may be far less dramatic than anticipated, and could even exacerbate the gap between the rich and the poor. More →

Since the pandemic, people now work six fewer months over the course of their lives

Since the pandemic, people now work six fewer months over the course of their lives

by • News, Wellbeing

As the UK government warns that the state pension age might need to rise, a new report from the the International Longevity Centre UK (ILC) claims that, between 2019 and 2022, people’s work span in the UK fell by 6 months. The report argues that, to enable more people to stay healthy and be in work for longer, the next government should invest more in preventing ill health, supporting people to stay in work and building healthier behaviours. More →

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