UK could unlock £61bn boost to AI economy by closing skills gap

The report, which collates and analyses skills data from over 14,500 employees across 16 industries, maps out for the first time how data and AI skills could offer the critical bridge to translate record-high technology investment into business growth and productive output.

Equating to 4.7 hours lost each week, the sizable data skills gap directly affects the UK’s ability to build the foundations needed to capitalise on AI. Without employees skilled in structuring, visualising, and analysing data effectively, companies’ AI investments will struggle to come to fruition. Key findings include: 

• Over half of workers struggle with making data analysis more efficient (54%), and nearly half lack skills in data visualisation (49%) and using data to tell a story (48%) – all essential for generating insights that can power AI
• The sectors most affected by the data skills gap are healthcare, defence, and food and beverage, spending 41.2%, 38.8%, and 38% of their time working with data inefficiently, losing 35, 35, and 40 days of productivity respectively
• Other key industrial strategy sectors are also lagging: financial services lose 32.5% (25 days) and digital and technologies lose 32% (22 days)

Data from the ONS shows that more than eight million UK employees work in knowledge-intensive industries such as professional services, finance, and information and communications, which are highly exposed to data and AI disruption. The cost of the lost productivity for British companies could be up to an estimated £61.94 billion annually (based on the average salary of £65,428.48 per year for knowledge-intensive sectors).

AI skills set to boost the UK economy

Meanwhile, AI adoption remains low despite the billions poured into Generative AI technologies since the launch of ChatGPT, with McKinsey noting that just 1% of companies are at AI maturity. Multiverse skills intelligence data supports this: only 6% of employees are actively looking for ways to improve processes in their role with AI, signalling that the UK is not yet developing the capabilities needed for long-term value creation. 

Meanwhile, workers estimate they could boost their efficiency by 38% using AI if equipped with the right skills. 

The report reveals that the AI skills required to succeed are evolving rapidly beyond basic prompt engineering – but the UK workforce is struggling to develop these next-generation capabilities:

• Less than a quarter of employees (23%) use Generative AI tools like ChatGPT in their roles currently, while 95% of workers rated themselves as having “no or basic” Microsoft Copilot skills
• Two in five workers (41%) admit they lack the skills to identify where AI could add business value
• 38% are unable to evaluate new use cases or implement practices to ensure fairness and transparency in AI algorithms

Euan Blair, Founder and CEO of Multiverse, said: "The conversation needs to shift from 'what can AI do?' to 'what can our people do with AI?' This should be a wake-up call: the real barrier to AI adoption isn't the technology itself, it’s the capability of the workforce to use it. It’s like everyone’s got access to iPhones but they’re only using them to make calls.

“The strategic imperative is clear: invest in deep, role-specific training that empowers employees not just to use AI, but to innovate with it safely and effectively."

Workforce readiness ramps up

Despite the significant skills gaps, the report finds a workforce that is motivated to upskill. An overwhelming nine in 10 (91%) employees said they want to improve their AI skills, with nearly two thirds (64%) citing a desire to understand AI's potential and one in five (22%) wanting to ensure future career opportunities.

By investing in on-the-job training in tech, data, and AI, organisations can harness employees’ enthusiasm to close skills gaps and drive business growth.