May 17, 2024

UK economy could get a £550 billion boost from AI by 2035, Microsoft claims

A new report commissioned by Microsoft suggests that the UK economy could see a significant boost of £550 billion by 2035 if the country embraces artificial intelligence (AI) and cloud technology. The report, titled Unlocking the UK’s AI Potential, claims to highlight several ways the technology can benefit the UK economy. These include increased productivity, improved public services, and the creation of new jobs. More →

May 15, 2024

Mastering GenAI: how to bridge skills gaps and boost employee confidence

by Bill O'Shea • Comment, Workplace

Six in ten employees will require training before 2027 according to the World Economic Forum, which estimates that the talent shortage will exceed 85 million people by 2030. The introduction of GenAI in the workplace means this skills gap is set to expand. In Udemy’s recent Global Learning & Skills Trends Report, we found that there are three key learning and skills trends for 2024. Firstly, we are seeing that companies are increasingly looking to hire based on skills rather than formal qualifications like degrees, as these hires more closely align with long-term strategic goals and are better equipped to upskill existing teams. More →

May 13, 2024

We must embrace AI for sustainable workforce transformation

by Christian Rebernik • AI, Comment, Technology

Each technological revolution has gotten faster; and the era of Artificial Intelligence is accelerating at an unprecedented rate—an intimidating prospect, given Musk’s recent prediction of AI surpassing human intelligence. Some say the tech will take on “80 percent of the jobs that exist today”, but history has shown that technological advancements have consistently led to the creation of new job roles, elevating the standard of living and improving overall productivity. More →

May 9, 2024

Firms growing concerned about increase in litigation

by Neil Franklin • News, Workplace

Seven in ten (71 percent) UK businesses are concerned about rising business litigation, with nearly three quarters (72 percent) reporting an increase in cases brought against their companies over the past five years and three in five (60 percent) anticipating a further rise over the next 12 months, according to a new poll from insurance broker Gallagher. The multi-sector survey of 764 business leaders claims to have found an upsurge in litigation is being driven by a number of factors, notably the rising cost of living (47 percent), economic instability (36 percent) and a more litigious UK society generally (35 percent). More →

May 3, 2024

Commercial real estate lending hits ten year low

by Jayne Smith • News, Property

New lending for commercial real estate fell 33 per cent last year to its lowest level since 2013, according to the latest bi-annual report from Bayes Business School, (formerly Cass). Researched and written by Dr Nicole Lux, Senior Research Fellow at Bayes Business School, City, University of London, the report also shows that a significant portion (42 per cent) of the £170 billion of loans outstanding will have to be refinanced within 12 months. Dr Lux expects that will cause ongoing stress in the market. More →

April 30, 2024

Commuting costs continue to put strain on office worker finances

by Neil Franklin • Flexible working, News, Wellbeing

UK employees are suffering higher cost-of-living expenses, especially due to transportation costs and tensions may rise as many companies enforce return-to-office policies. That is according to the latest study conducted by Capterra on 248 U.K. employees, the majority (69 percent) say their work-related costs have increased over the past 12 months, especially the price of groceries (95 percent), utilities (85 percent), eating out (78 percent), and petrol (63 percent). More →

April 30, 2024

Wellbeing and flexibility are the keys to workplace success

by Neil Franklin • News, Wellbeing, Workplace

A new poll from BSI claims that employee health and employer flexibility are key elements to harness a future age-diverse workforce. Evolving Together: Flourishing in the age-diverse workforce considers how today’s business leaders think businesses and policymakers can respond to demographic changes to enable individuals to thrive and organizations to grow as greater numbers work beyond the age of 65. More →

April 27, 2024

European commercial real estate market stumbles in 2024

by Marvin Gort • News, Property

Dreams of a swift recovery in Europe’s commercial real estate market have been dashed as the first quarter of 2024 witnessed a continued slump, marking the seventh consecutive quarter of decline. That is according to data released by MSCI Real Assets which paints a concerning picture, with completed commercial property transactions reaching a mere €34.5 billion in the first three months – a 26 percent drop compared to the same period in 2023. This translates to the lowest transaction volume since the third quarter of 2010, with the number of companies buying and selling properties also hitting a 12-year low. More →

April 24, 2024

Large increase in the number of people who say they are experiencing burnout

by Neil Franklin • News, Wellbeing

The number of Britons who say they are experiencing stress or burnout in the workplace doubled in 2023 compared to the previous year, according to a poll from Indeed Flex. According to the survey, 92 percent of UK employees say they have experienced burnout or stress in the workplace during their careers. However the strain has grown rapidly as post-pandemic labour shortages intensified workloads. In 2023 the proportion of UK workers grappling with poor mental health skyrocketed to 37 percent, almost double the 19 percent who experienced problems during 2022. A fifth (19 percent) of workers say they have suffered from burnout or stress in 2024 so far. More →

April 23, 2024

Report sets out nine ways cities can reduce carbon emissions

by Jayne Smith • Cities, Environment, News

A report published by the World Economic Forum’s Centre for Urban Transformation sets out what its authors claim are best practices developed by pioneer cities that are reducing carbon emissions from urban development projects. As cities grow in population and importance, urban construction will continue to gather pace. It is estimated that the global floor area is expected to double by 2060, the equivalent of building out New York City every month for the next 40 years. The report, Reducing Embodied Carbon in Cities: Nine Solutions for Greener Buildings and Communities, highlights nine innovative solutions for all phases of construction and demolition. More →

April 22, 2024

AI is not coming for your job. But it will make it better

by Barry Murphy • AI, Comment, Technology, Workplace

“Artificial intelligence will outsmart humans, resolve all IT and business problems, and humans will not be needed in the workforce!” These are some of the most common misconceptions that too many companies and workforces currently have around AI and automation. To date, workforces have been inclined to broach AI with apprehension due to concerns that it will negatively affect or eliminate their jobs. Conversations have skewed towards the technology as a disruptive force, here to steal jobs and ultimately leave people redundant. A study found that 60 percent of workers are concerned about job loss in regards to working with Gen AI. Additionally, a further third worried that, despite AI being unable to completely replace them, it could make them less useful in the workplace. More →

April 22, 2024

Hybrid working ‘allows organisations to cut energy use by a fifth’

by Neil Franklin • Environment, Flexible working, News

Hybrid working has enabled UK businesses to cut energy usage by a fifth as they replace large city centre office space with smaller, more energy efficient spaces including flexible workspaces, according to a new report from IWG, whose brands including Spaces and Regus. surveyed more than 500 leaders and facilities managers at businesses that have adopted hybrid working policies. The findings revealed that average energy consumption in those companies has fallen by 19 percent since the introduction of hybrid working policies, benefiting both the environment and their bottom line. More →