VocTech market activity: Q1 2024

The latest report from Ufi and Tyton Partners

Following the release of our annual report, The Jobs Frontier 2024, which covers reflections, prompts, and opportunities for investors looking at the past year and the year ahead, this quarterly report provides more detail on the future of work market activity from January through March 2024, informing direction for the short-term and long-term.

During the quarter, economies continued to show signs of recovery as inflation slowed. However, individuals continue to face a cost-of-living crisis that has impacted consumer demand. As a result, economic growth regressed in the UK, Germany, and the EU, while the US continues to see improvement in growth.

Labour markets have continued to cool, the unemployment rate has remained steady across most nations though the UK saw a drop. Worker discontent remains across various sectors as individuals continue to demand improved pay and working conditions to combat economic headwinds. Firms have continued to struggle with a mix of skilled shortages and reduced demand, forcing many to layoff staff. Others with financial capabilities have looked to reinvest in artificial intelligence (AI) in efforts to improve productivity. AI has continued its rapid development, leading to efforts to regulate its potential negative impact on humans and society as a whole...

In our Q1 2024 report we explore 5 key framing questions:

  1. How can organisations reformat internal strategies to properly leverage AI’s capabilities to improve productivity, talent engagement, management, and hiring?
  2. What impact does hiring overseas talent have on the home country, and what efforts can be made to mitigate negative effects?
  3. How can workers, learners and academic institutions adapt to the rapid adoption of AI technology? What can they expect from a second wave of AI?
  4. What efforts are needed to make the green transition a tool to reduce inequalities across all regions?
  5. What efforts can be made to reduce costs of and better signpost green reskilling to boost the drive towards a greener economy?
Cover image from the Q1 2024 report

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