Grayce, with offices in Manchester, London, and Washington, has launched an AI lab aimed at upskilling its 400-strong workforce. The initiative is designed to equip Grayce analysts with foundational AI knowledge, including effective prompt writing and understanding ethics and bias in AI.
Grayce has already commenced the upskilling of all current employees, with the aim to complete this process by the end of 2024. The new AI lab now forms the backbone of all development pathways, ensuring that all future analysts receive comprehensive AI training.
Recent research by Grayce highlighted the need for such training, revealing that 38% of C-suite executives at FTSE 350 companies believe their organisations lack sufficient skilled AI professionals. This is crucial as the impact of AI is identified as a significant challenge for businesses in the coming years.
AI skills are becoming increasingly valuable. According to studies by the Oxford Internet Institute and the Centre for Social Data Science at the University of Copenhagen, workers with AI skills can earn up to 40% more in salaries compared to those without.
Research from Grayce, involving 1,000 individuals aged 18-25, found that two in five are not confident in their AI and emerging technology skills. This gap in confidence and skills highlights the importance of the new training initiative.
Miranda Di Rosa, Chief Development Officer at Grayce, commented on the rapid rise in AI adoption and the need for businesses to adapt. She underscored the importance of equipping teams with the right tools and knowledge to support transformation projects. Di Rosa pointed out that many users of AI are concerned about the effective use of the technology, its ethical implications, and issues of confidentiality.
Di Rosa stated, ‘Our lab aims to give our analysts the tools to effectively use AI while also dispelling misconceptions associated with it. This not only helps them feel more confident when using it and find reliable opportunities to generate efficiencies, but the businesses we work with also appreciate the extra knowledge they can rely on in our emerging talent.’
Grayce’s AI lab represents a significant step forward in addressing the skills gap in AI among its workforce. By the end of 2024, the organisation aims to have its entire team proficient in AI, thereby enhancing their ability to support global businesses effectively.