2024 in Review: Trends in the Data, Analytics, and Technology Industries

The data, analytics and technology sectors continued to evolve throughout 2024, driven by advances in AI, regulatory shifts and of course the long and rumbling issue of companies needing to find skilled talent. The economic and political backdrop to all this meant that for some industry sectors it was BAU but for others they found they were unable to execute on their planned growth. Here’s a snapshot of the year’s major trends and what they meant for professionals in these industries:

Key Highlights from 2024

Fiverr’s report on AI usage and their supporting video “nobody cares” pulled the focus onto how people are actually using AI, driving home the message that it’s not the usage of the tech that is an issue, it’s on the skill of the individual and whether they are able to get the best out of the tech. Talent shortage within the AI sector was high in the UK during 2024 as businesses adopted aspects of it more prolifically than they had during 2023. COP29 also highlighted a significant gap within the sustainability sector for digital skills necessary to harness AI effectively. Coupled with the fact that AI training was relatively low compared to this shortage of skills so this is potentially an area to look at in 2025 if you want to remain relevant.

Data streaming took off in 2024, with platforms like Kafka and Confluent enabling businesses to make swift, informed decisions based on real-time data. AI needs access to reliable and constant data in order to be effective and up to date so with an increase in AI usage there comes a need for businesses to get the foundations for a steady stream of data correct.

Salary Trends: Up, down and everything in-between!

Not surprisingly the sectors that did well during 2024 were those that utilised AI – gen AI, large language models and computer vision professionals experienced salary increases of 10-20% in high demand markets and competition for this talent was fierce. Digital transformation projects, like the data streaming ones mentioned earlier, also provided a good basis for salary upticks for Cloud Infrastructure professionals involved in the sector. Data roles within the insurance and financial sectors did well, with some roles fairing better than others, Analysts for example saw between a 5%-6% increase whereas ML and AI specialists salaries experienced on average a 10% growth.

In demand skills
 
Predictably, skills in building, fine tuning and deploying LLMs were really hot. Familiarity with frameworks like TensorFlow, NumPy, PyTorch, SciKit Learn and Hugging Face helped professionals gain new employment. 
Data Engineers with niche component skills such as Snowflake, AWS, Azure and Google Cloud Platform were in high demand as companies expanded cloud adoption, the expansion of big data initiatives and the necessity for robust data infrastructure prompted organisations to invest in these skilled data engineers. Gen AI skills across areas like content creation, customer service and predictive analytics meant those that took the time to learn how to implement the technology into their roles were more in demand than those that did not. 
Another discipline where professionals were in high demand was data privacy and AI governance for a variety of reasons around AI implementation, regulatory changes.

 
In terms of programming languages Python remained dominant but Go and Rust gained traction for their performance and efficiency in large-scale applications.

Challenges in 2024

Hiring freezes and layoffs driven by macro-economic uncertainties led to hiring slowdowns in some sectors. The hybrid work trend persisted with fully remote roles becoming scarcer and companies started to increase on-site days citing collaboration and culture as the main driver. Forward thinking businesses found ways to continue the culture with a blended workforce in place and continued to benefit from a wider talent pool outside of site locality.

Advice for 2025 regardless of sector

If you are looking to grow professionally in 2025 these are tried and tested methods to help you achieve your goals:

1. Continuous Skill Development

Regardless of sector, we would advise looking at obtaining certifications in high-demand areas that compliment your role. An obvious one would be anything AI related or cloud computing. Stay updated with emerging technologies and methodologies through online courses, workshops, and industry seminars.

2. Expand Your Professional Network

The best way to engage with peers is to attend conferences, webinars and networking events to connect with peers and industry leaders. Consider becoming a member of relevant organisations to access resources and opportunities for collaboration.

3. Enhance Your Personal Brand

The power of sharing insights and projects on platforms like LinkedIn should not be underestimated. Not only does it indicate to new employers the level of thought leadership or expertise, it also can lead to new avenues like side projects, speaker opportunities, and new idea generation. Regardless of whether you post or not, create a portfolio highlighting your work, achievements and skills because this makes everything easier for you if you ever need to present such things to potential employers.

4. Seek Career Advancement Opportunities

Seek out industry salary benchmarks (or contact us for ours!) to help advocate effectively for raises or promotions.

Sometimes being open to lateral moves or new positions that offer growth and learning opportunities that aren’t a direct linear move can be a great way to advance your career in the long run.

5. Consider taking on projects or initiatives outside of your usual role remit that showcase your leadership capabilities and potential for advancement. This of course depends on your company, however most companies will be running initiatives alongside BAU activities, whether that’s people or business improvement related.

When we look at the progressing initiatives within this sector in 2025 there is plenty to look forward to. Open finance will continue to develop, data driven companies will grow in numbers and capability, government policies are in place to support the growth of this sector and roles will continue to be added to the growing portfolio of skills sets, data ethicists and quantum computing included. For career advice, role discussion, help with your CV or hiring please do get in touch and have a great festive period, ready for whatever 2025 brings!!