New AI and Technology Part of London Growth Plan

Mayor Sadiq Khan to address the persistent challenge faced by UK businesses in finding suitable talent over the past five years.

20:22 06 April 2024

The London Growth Plan pledges to usher in a wave of fresh employment opportunities, particularly in the domains of AI, health tech, and life sciences. Mayor Sadiq Khan has set ambitious targets, aiming to cultivate over 150,000 high-paying jobs by 2028, addressing the persistent challenge faced by three-quarters of UK businesses in finding suitable talent over the past five years.

In collaboration with Shadow Chancellor Rachel Reeves, Khan intends to fuel this job creation by channeling investment into small and medium-sized enterprises across central and outer London. Furthermore, he seeks additional governmental support to forge partnerships with private sector entities, specifically targeting individuals from economically disadvantaged backgrounds, facilitating their entry into lucrative career paths.

Highlighting the untapped potential of London, Khan emphasizes the inclusive nature of the plan, developed in consultation with trade unions, councils, and businesses alike. This initiative comes at a critical juncture, coinciding with findings from employment platform Indeed, revealing the pervasive hiring challenges encountered by UK businesses, where over 60% cite a dearth of qualified candidates as their primary obstacle.

Derek Mackenzie, CEO of Investigo recruitment agency, applauds Khan's focus on enhancing London's employment landscape but stresses the complementary role of businesses in fostering talent. Acknowledging the pivotal significance of sectors like AI and cybersecurity, Mackenzie underscores the imperative for businesses to provide robust support mechanisms, including training initiatives, flexible work arrangements, and career guidance, to empower job seekers and nurture their skill sets effectively.

As Sadiq Khan gears up for the upcoming mayoral election, the London Growth Plan stands as a testament to his commitment to addressing the city's employment challenges and fostering a thriving, inclusive economy.