A thriving startup ecosystem, illustrious universities and a balanced regulatory dynamic have propelled Switzerland’s AI innovation efforts to new heights.
Thanks in part to research institutes like the Center for Artificial Intelligence in Medicine, Switzerland has emerged at the forefront of the AI-enabled healthcare space, boasting a wealth of opportunities for those wishing to work at the leading edge of discovery.
If you’re hoping to attract talent in this highly competitive space, it’s important to understand the unique trends, challenges, and opportunities that define Switzerland’s AI and Machine Learning landscape.
Addressing the Specialist Skills Gap
Despite its many pioneering advancements, the Swiss AI hub isn’t immune to the specialist skill shortages that pervade much of the global tech space – Microsoft’s Annual Work Trend Index found that 79% of Swiss business leaders claim employees will need new skills to brace for the growth of AI.
Plus, a recent study from PwC found that Swiss employees are slightly less prepared for AI disruption than their overseas counterparts, with just 34% of respondents expecting their role requirements to change (compared to 43% globally).
As tech investment trends shift towards the burgeoning AI landscape, ICT spending across Switzerland, Germany, and Austria is estimated to reach $275 billion this year (International Data Corporation, 2023), exceeding the European average. This activity mirrors the growing demand for AI and Machine Learning Specialists, placing a premium price on their skill sets.
The cost of living crisis – rising health insurance premiums, rent prices, and food and transportation costs are placing a strain on much of Switzerland’s population. What does this mean for hiring managers? Wage and benefit packages must be carefully considered in light of the cost-of-living crisis.
Fierce Competition – the Swiss job market is growing. Deloitte estimates that automation will account for the creation of around 270,000 jobs by 2030. It’s good news for skilled candidates, but a key area of concern for employers, as competition is already fierce.
Cross-Industry Pressure – as non-tech-born sectors race to adopt AI, many employers are now facing cross-industry competition for the same talent pool. Recent advancements in the healthcare space are a prime example.
Attracting and Retaining Top Talent
Here at DeepRec.ai, we’re hooked on the DeepTech space, and since we specialise in connecting incredible AI talent with equally incredible opportunities, we get the privilege of an inside look at the talent market. Even in the face of compounding challenges, the Swiss tech job market remains resilient.
For those wishing to identify, attract, and retain the top AI talent, it’s worth knowing that:
Switzerland has occupied the number one spot on INSEAD’s Global Talent Competitiveness Index since 2015. This is a major advantage for anyone hoping to expand their reach and tap into international talent pools.
World-class collaboration opportunities are waiting to be explored. ETH Zurich is an ideal example. Alternative recruitment processes will need to be explored if businesses hope to close talent gaps – partnerships are a good way to open up doors for game-changing candidates.
Swiss employees are typically eager to embark on professional development journeys – employers that can offer them a platform for this tend to be better positioned to attract and retain high-potential candidates.
Trinnovo Group GmbH Can Help
From enhancing your employer value proposition to pinpointing diverse, highly skilled, culture-add candidates for niche AI and Machine Learning jobs, the team at Trinnovo Group GmbH have you covered.
Whether you’re looking for market insights, top talent, new connections, or a bit of everything, we’re here to help. Contact the team today to find out more about our specialist recruitment services in Switzerland.