“Senator, we place ads,” will probably be one of those phrases that will forever remain a part of our memory of 2018. Whatever your opinion on the Facebook discussion may be, none of us can deny that the social network has utilised the latest in Artificial Intelligence to aid the advertising efforts of its paying clients. Most of us are Senator Cornyn when it comes to understanding the differences between AI, ML and DL. He knew what Facebook was but didn’t quite understand how it works.

We talk about the social, moral and political issues surrounding Artificial Intelligence, Machine Learning and Deep Learning, but often it’s not very clear what these terms mean, how they differ from one another and what might be everyday examples of each. These terms are often used interchangeably despite meaning somewhat different things. We can recognise AI and ML when we see it, for example in predictive texts that learn from our messages and add words to the phone dictionary. But if you were asked to define each concept and explain how it works and how it differs from the others, we would hazard a guess that such a task would be somewhat more complicated.

In light of this, we have put together this post to explain the difference between Artificial Intelligence, Machine Learning and Deep Learning, so that when it comes to these three concepts, none of us risk embarrassing ourselves similarly to the senator who didn’t understand how Facebook makes money.

Before we delve into explaining the differences, it is important to explain the most important building block of these technological advances – algorithms.

Computers know what to do with the code they are given. But before writing code, you need an algorithm.

At its most basic level, an algorithm is a sequential list of rules to follow that lead to solving a problem. Sequencing is crucial. Cooking is a helpful example of the importance of order in an algorithm. When you ask someone how to make steak, they don’t tend to give you the steps in random order or in a different order each time.

“Well, you put meat on a plate, then the plate on a hot stove, then place a pan on top of it and season the top of the pan.”

a man telling a woman the wrong order in which to make food

The order of things matters and that is exactly how an algorithm functions. The code is a recipe to be executed by a computer exactly in the order it is laid out.

 

Artificial Intelligence

Artificial Intelligence sounds like someone who took a 10 question “totally legit” test on BuzzFeed and got an IQ score of 250. Fake intelligence. You can’t trust it, no one has verified it.

But that’s not it. So why is it called artificial intelligence? What’s artificial about it?

There is much dispute over this, with some claiming that artificial should stand for ‘false’ because it’s not human, and others saying ‘artificial’ only because it is created by humans and didn’t originate from natural causes. The scientific community hasn’t firmly decided one or the other, and neither will we.

So what is AI then?

AI is the best umbrella term for explaining advanced computer intelligence.

It summarises the efforts to make computers think the way we think, to be able to simulate human cognitive thinking and decision-making, leading to human-like actions, and ultimately to be better and faster at problem-solving than we are.

Artificial intelligence (AI) makes it possible for machines to use experience for learning, adjust to new inputs and perform human-like tasks.

Artificial intelligence is generally divided into two types – narrow (or weak) AI and general AI, also known as AGI or strong AI. More recently a third type has been introduced – conscious AI.

 

  1. Narrow AI

Narrow AI is designed to perform one task at a time and to continue improving its execution. The goal is to find an automated solution to a problem or inconvenience or to simply improve something that already works, but can work better.

Currently, most of Artificial Intelligence is Narrow AI. Narrow AI tends to be software that is automating an activity typically performed by humans, and in the majority of the cases it exceeds or aims to exceed, human ability in efficiency and endurance.

Examples of narrow AI:

  • Self-driving cars that learn how to drive like Google and Uber cars, which as of now exist
  • Recognizing your face at your nearby bank office to help you with a more personal experience
  • We can ask our smartphones about the weather and expect accurate predictions.
  1. General AI

Some call it ‘The True AI’ because it is the next step towards more comprehensive machine intelligence. Rather than focusing on a single task, the goal is to teach the machine to comprehend and reason on a wide level just like a human would.

The goal is the machine’s ability to think generally, to be able to make decisions based on learning rather than previous training. It would have the ability to take training into consideration but then make a judgement on whether there is another, more appropriate course of action to be taken. Independent learning from experience, which is the way humans learn and reason, is the goal.

We are talking about creating an intelligence that is equivalent to that of a human being. That is a lofty task and one that we are still so far from accomplishing, but the geniuses of our time are hard at work to get closer and closer to this goal.

Over time, four tests of AGI have emerged as the primary definitions of the concept and the marker for judging whether something is generally intelligent.

 

  1. The Turing Test

 

The Turing test was first presented in Turing (1950). The main criteria for being recognised as an AGI is that the AI program needs to be able to win the the $100,000 Loebner Prize. This prize has been available for over 28 years and no one has won it yet. Overall there are two prizes that have never been won.·

  • $25,000 for the first program that judges cannot distinguish from a real human and which can convince judges that the human is the computer program.

  • $100,000 for the first program that judges cannot distinguish from a real human in a Turing test that includes deciphering and understanding text, visual, and auditory input.

Once the $100,000 is won, the annual competition will no longer continue.

 

b.    The coffee test

In 2007, Apple co-founder Steve Wozniak came up with a different test for robots that cannot talk.

Wozniak claimed that there will never exist a robot that can go into a house, locate the kitchen and then the coffee machine, recognize the ingredients and equipment needed to make the hot drink, and finally understand how the machine works and how to use it. He argued that these cannot be programmed, only learned.

robot saying his latte art is good

  1. The Robot University Student Test

Instituted by Ben Goertzel, the Robot University Student Test requires the robot to complete a degree. In order to pass this test, the robot has to enrol onto a university course and go through the whole degree process just like a human would. It would need to study all the required subjects and pass the exams and tests required for obtaining the degree.

 

d.    The employment test

Computer scientist Nils John Nilsson suggested in 2005 an alternative test to the Turing, an employment test to show that “machines exhibiting true human-level intelligence should be able to do many of the things humans are able to do”, including human jobs.

The interesting part about AI and machine learning is that because it is focused on re-creating human intelligence in machines, it actually requires an increasing knowledge and understanding of humans. How and why we think, behave, make decisions, why we like and dislike things, how and why we change our minds and a whole myriad of other aspects of our cognitive makeup, that thousands of people have dedicated their careers to understanding. So as technology is evolving, the hamster in the wheel is our understanding of ourselves.

This raises the other million pound question – are AI and machine learning only as advanced as humans are? Or can their intelligence surpass us one day and lead to what many claim will be a world run by robots?

 

Machine Learning

At its core, machine learning is simply a way of achieving AI. Machine learning is an application of artificial intelligence (AI) that enables systems to learn and advance based on experience without being clearly programmed. Machine learning focuses on the development of computer programs that can access data and use it for their own learning.

 

There are 4 types of machine learning

  1. Supervised learning
  2. Unsupervised learning
  3. Semi-supervised learning
  4. Reinforced learning

 

1. Supervised learning

Supervised machine learning can take what it has learned in the past and apply that to new data using labelled examples to predict future patterns and events. It learns by explicit example.

Supervised learning requires that the algorithm’s possible outputs are already known and that the data used to train the algorithm is already labelled with correct answers. It’s like teaching a child that 2+2=4 or showing an image of a dog and teaching the child that it is called a dog. The approach to supervised machine learning is essentially the same – it is presented with all the information it needs to reach pre-determined conclusions. It learns how to reach the conclusion, just like a child would learn how to reach the total of ‘5’ and the few, pre-determined ways to get there, for example, 2+3 and 1+4. If you were to present 6+3 as a way to get to 5, that would be determined as incorrect. Errors would be found and adjusted.

The algorithm learns by comparing its actual output with correct outputs to find errors. It then modifies the model accordingly.

Supervised learning is commonly used in applications where historical data predicts likely future events. Using the previous example, if 6+3 is the most common erroneous way to get to 5, the machine can predict that when someone inputs 6+3, after the correct answer of 9, 5 would be the second most commonly expected result.  We can also consider an everyday example – it can foresee when credit card transactions are likely to be fraudulent or which insurance customer is more likely to put forward a claim.

Supervised learning is further divided into:

  1. Classification
  2. Regression

 

2. Unsupervised learning

Supervised learning tasks find patterns where we have a dataset of “right answers” to learn from. Unsupervised learning tasks find patterns where we don’t. This may be because the “right answers” are unobservable, or infeasible to obtain, or maybe for a given problem, there isn’t even a “right answer” per se.

Unsupervised learning is used against data without any historical labels. The system is not given a pre-determined set of outputs or correlations between inputs and outputs or a “correct answer.” The algorithm must figure out what it is seeing by itself, it has no storage of reference points. The goal is to explore the data and find some sort of patterns of structure.

Unsupervised learning works well when the data is transactional. For example, identifying pockets of customers with similar characteristics who can then be targeted in marketing campaigns.

Unsupervised machine learning is a more complex process and has been used far fewer times than supervised machine learning. But it’s exactly for this reason that there is so much buzz around the future of AI. Advances in unsupervised ML are seen as the future of AI because it moves away from narrow AI and closer to AGI (‘artificial general intelligence’ that we discussed a few paragraphs earlier). If you’ve ever heard someone talking about computers teaching themselves, this is essentially what they are referring to.

In unsupervised learning, neither a training data set nor a list of outcomes is provided. The AI enters the problem blind – with only its faultless logical operations to guide it. Imagine yourself as a person that has never heard of or seen any sport being played. You get taken to a football game and left to figure out what it is that you are observing. You can’t refer to your knowledge of other sports and try to draw up similarities and differences that will eventually boil down to an understanding of football. You have nothing but your cognitive ability. Unsupervised learning places the AI in an equivalent of this situation and leaves it to learn using only its on/off logic mechanisms that are used in all computer systems.

robot watching football on tv

3. Semi-supervised learning (SSL)

Semi-supervised learning falls somewhere in the middle of supervised and unsupervised learning. It is used because many problems that AI is used to solving require a balance of both approaches.

In many cases the reference data needed for solving the problem is available, but it is either incomplete or somehow inaccurate. This is when semi-supervised learning is summoned for help since it is able to access the available reference data and then use unsupervised learning techniques to do its best to fill the gaps.

Unlike supervised learning which uses labelled data and unsupervised which is given no labelled data at all, SSL uses both. More often than not the scales tip in favour of unlabelled data since it is cheaper and easier to acquire, leaving the volume of available labelled data in the minority. The AI learns from the labelled data to then make a judgement on the unlabelled data and find patterns, relationships and structures.

SSL is also useful in reducing human bias in the process. A fully labelled, supervised learning AI has been labelled by a human and thus poses the risk of results potentially being skewed due to improper labelling. With SSL, including a lot of unlabelled data in the training process often improves the precision of the end result while time and cost are reduced. It enables data scientists to access and use lots of unlabelled data without having to face the insurmountable task of assigning information and labels to each one.

 

4. Reinforcement learning

Reinforcement learning is a type of dynamic programming that trains algorithms using a system of reward and punishment.

A reinforcement learning algorithm, or agent, learns by interacting with its environment. It receives rewards by performing correctly and penalties for doing so incorrectly. Therefore, it learns without having to be directly taught by a human – it learns by seeking the greatest reward and minimising penalty. This learning is tied to a context because what may lead to maximum reward in one situation may be directly associated with a penalty in another.

This type of learning consists of three components: the agent (the AI learner/decision maker), the environment (everything the agent has interaction with) and actions (what the agent can do). The agent will reach the goal much faster by finding the best way to do it – and that is the goal – maximising the reward, minimising the penalty and figuring out the best way to do so.

robot confused about where to cross the road

Machines and software agents learn to determine the perfect behaviour within a specific context, to maximise its performance and reward. Learning occurs via reward feedback which is known as the reinforcement signal. An everyday example of training pets to relieve themselves outside is a simple way to illustrate this. The goal is getting the pet into the habit of going outside rather than in the house. The training then involves rewards and punishments intended for the pet’s learning. It gets a treat for going outside or has its nose rubbed in its mess if it fails to do so.

Reinforcement learning tends to be used for gaming, robotics and navigation. The algorithm discovers which steps lead to the maximum rewards through a process of trial and error. When this is repeated, the problem is known as a Markov Decision Process.

Facebook’s News Feed is an example most of us will be able to understand. Facebook uses machine learning to personalise people’s feeds. If you frequently read or “like” a particular friend’s activity, the News Feed will begin to bring up more of that friend’s activity more often and nearer to the top. Should you stop interacting with this friend’s activity in the same way, the data set will be updated and the News Feed will consequently adjust.

 

Deep Learning

Deep learning is a specialized form of machine learning. Deep Learning is an artificial intelligence function that imitates the workings of the human brain in processing data and creating patterns for use in decision making. It is also known as Deep Neural Learning or Deep Neural Network.
Deep learning uses a hierarchical level of artificial neural networks for the machine learning process. These networks are built to resemble the way the human brain functions, with neuron nodes interconnected like a web. While traditional programs build linear networks, the hierarchical function of deep learning systems enables processing data in a nonlinear way.

A standard machine learning workflow starts with manually extracting selected features from images. These features are then used to create a model for categorising the selected objects. A deep learning workflow differs from this as relevant features are extracted automatically. In addition, deep learning performs “end-to-end learning” – it is given raw data and a task to perform, such as classification, and it learns how to do this by itself.

In machine learning, you manually choose features and a classifier to sort images. With deep learning, feature extraction and modelling steps are automatic.

However, because deep learning is still going through growing pains, there have been a number of concerns raised alongside the vast potential it holds, particularly around the ambition of achieving AGI through deep learning.

Gary Marcus, former head of AI at Uber, published a paper on deep learning which summarises some key concerns. Among the concerns he raised were:

  • DL is limited when it comes to open-ended reasoning based on real-world common sense and knowledge, meaning that machines wouldn’t be able to distinguish between “Tom promised Mary to stop” and “Tom promised to stop Mary”.
  • Deep learning is self-sufficient and is made up of correlations, rather than abstractions. Problems that deal largely with common sense reasoning are mostly outside of what deep learning can cope with.
  • Another problem often linked to deep learning is acquiring biases. If the training data set contains biases, the model will learn and consequently replicate those biases in its conclusions and predictions.

Despite the buzz surrounding deep learning, it is still a tremendous challenge. While great strides are being made in its progress, the journey of moving machine learning beyond pattern classification will be long and arduous.

So there you have it. We hope that now, should your next debate with friends or colleagues involve the differences between AI, ML and DL, you will stand proud. If not, we look forward to seeing Senator Cornyn-inspired memes about your blunder.

If you are looking for a new role where you can work within this field, or if you need fresh talent for your company or organisation – we would love to help.

 

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*certain icons in the images are created by the following FlatIcon authors: Vignesh Oviyan, Freepik, Dave Gandy, Vectors Market, Smashicons, Good Ware, Smartline, Iconnice, prettycons, Roundicons, Vector Pocket and Pixel perfect. 

A report published by the government and one of the UK’s leading insurance brokers and risk advisors, Marsh, has announced plans for the UK to become a global leader in cyber security insurance through a series of initiatives designed to help firms get to grips with cyber risk.

The Cabinet Office minister and 13 major insurance firms have agreed to work together to improve the availability of cyber insurance by UK companies, after the report highlighted that 81% of large UK based companies, and 60% of small companies have suffered a cyber security breach in the past year.

Research suggests that cyber threats cost the UK economy billions of pounds each year and companies have been advised to ensure that they treat the danger as a commercial risk that affects all parts of a business.

Marsh UK & Ireland chief executive Mark Weil said: “Companies will need to upgrade their risk management substantially to cope with the growing threat of cyber attack, including introducing disciplines such as stress-testing, and creating a joined-up recovery plan that brings together financial, operational and reputational responses.”

Cyber security jobs at Certes

For more information on cyber security job roles with Certes, please search jobs on our site.

IT professionals who are trained in User Experience (UX) will soon be in high demand as businesses begin to realise the need to invest in user experiences online.

Research from the Association of Professional Staffing Companies (APSCo), has found that firms are becoming aware of the damage that a bad user experience can have on their reputation and are finally taking significant steps to ensure that all of their technology is up to speed with requirements.

APSCo found that UX has contributed to a large proportion of IT jobs growth and has predicted that the upsurge in demand will create a wealth of opportunities for contractors, in addition to a rise in assignment rates as firms compete to secure the best talent.

Those working in disciplines such as Business Analysis, Business Intelligence, Java and SQL Server may also be head hunted by firms, according to separate research from the Recruitment and Employment Confederation.

Opportunities in development, video game technology, web technology and PHP are opening up more doors for contractors as businesses search for ways to improve their online resources.

Find your perfect UX vacancy with Certes

If you are looking for user experience vacancies, please use our job search to find the latest roles.

Recruitment agencies have been around for decades. In order to strive for as long as they have, recruitment agencies had to evolve with technology. From the limited but wide-reaching Newspaper of the early 70's to the 'access at any time' nature of the online job boards of today, the recruitment industry has welcomed and embraced the changes that technology has brought.

The infographic below shows the technology that has appeared over the years and how the recruitment industry has used them to form a happy symbiotic relationship.

 

 

Source: Agency Central

Who is about to have the most wonderful time of the year. You or the cyber criminals?

You can’t fail to have noticed that we are entering the holiday season. The one where gifts are bought and exchanged, where food is consumed to almost glutinous levels and money is spent like it is going out of fashion.

The online shelves are stocked; the couriers are waiting and we are just a few short days from two of the biggest online shopping days of the year. By this time next week “Black Friday” and its post weekend sibling “Cyber Monday” will be behind us. These strange two new events have developed a more global reach since the advent of online shopping.

Black Friday, the day following Thanksgiving in the USA, is usually regarded as the start of the Christmas shopping season. So, in order to get it started with a bang, deep discounts are offered. Cyber Monday comes after the Thanksgiving weekend and is nothing more than a marketing ploy to get people to purchase online. Of course, this all coincides with the last payday before Christmas, so it’s almost a perfect Venn diagram of consumerism.

…and the cyber criminals know this too!

 

Read the rest over at Cyber Insights, brought to you by the National Cyber Skills Centre.

Certes specialise in IT staffing for all sectors and industries. We are now working with the National Cyber Skills Centre in order to provide staffing to companies in need of cyber security. For cyber security jobs search our available jobs.

As time passes, society sees many different changes. These changes have their negative and positives. In the case of IT the positive and negative could be drastic and completely changes the way that different areas work

ComputerWeekly dive back into the last five years and takes a look at Government IT over the last five years – the good, the bad and the digital and they have compiled an in-depth analysis of the three major changes and the impact that have occurred in Government IT.

 

  • The Government Digital Service
  • Cutting down outsourcing
  • Nurturing technology talent

 

For more information about changes in Government IT, visit Computer weekly.

For jobs working in the public sector you can Visit Certes' job board

How much software do you use? MS Word perhaps, Excel now and again, or perhaps most of your working day is done in front of Photoshop or InDesign. Of course there are those little apps on your phone or tablet they are software too. What else? Well there is software in your car, the sat-nav is software as is the engine management system What about those sensors and that give you an update on all the oily moving bits? Yep, software again. Then of course your washing machine has multiple programmes on it, whites, colours, differing temperatures – more software. Your TV, your games console, your music player and so it goes on. There is even embedded software in implanted medical devices. If you ever get a pacemaker it’s running a little application on it to make sure you stay upright!

Read more over at Cyber Insights, brought to you by the National Cyber Skills Centre

Certes specialise in IT staffing for all sectors and industries. We are now working with the National Cyber Skills Centre in order to provide staffing to companies in need of cyber security. For cyber security jobs search our jobs.

Houston, we have a problem. The vast majority of us are currently completely at odds with our candidates when it comes to how to contact them about job opportunities.

Earlier this year we conducted our annual Global Recruiting Survey, in which we endeavoured to discover which candidate communication methods are most popular among recruiters and which were the most effective. After asking almost 1,000 recruiters worldwide, we found that most recruiters (81%) choose to send either a LinkedIn connection request or a LinkedIn InMail to a passive candidate in order to first engage with them. Only 14% take the time to find an email address and only 5% pick up the phone and try to reach talent the old fashioned way:

 

contacting passive candidates

The results are coherent with the fact that most recruiters spend the majority of their time on LinkedIn. 97% use it to search for talent, so it’s not surprising they also use it to reach out to top talent once they’ve found them there. But there’s a problem. While recruiters are ploughing most of their time and effort into finding and contacting candidates on LinkedIn, the professional networking site is actually one of the least popular methods of communication among potential candidates.

When Laudale went out to ask over 1,000 full and part-time workers what their preferred way of being contacted by a recruiter is, an overwhelming majority (79%) said they would prefer to be contacted by email. 39% preferred to be contacted by phone, whereas just 20% of workers said they preferred being contacted by recruiters through LinkedIn – meaning LinkedIn is a whopping 60% less popular than email, and 20% less popular among candidates than a phone call.

 

contacting passive candidates

 

And the results were the same for the most part across all demographic age profiles, apart from the fact that LinkedIn is even less popular with candidates aged 35-44 and 45-54, who actually prefer to receive a text from a recruiter over and above a LinkedIn InMail or connection request:

 

contacting passive candidates

The Most Effective Way of Contacting Passive Candidates

“Well, let’s just start contacting candidates by email then!” I hear you say. Well, unfortunately, it’s not quite that simple!

When we analysed recruiters’ average response rates by communication medium, we found that email actually had the lowest average response rates even when compared against candidates least favourite method of communication – LinkedIn Connection Requests and LinkedIn InMails.  On the contrary, the recruiters who reported the strongest average response rates (by quite a significant margin) were those recruiters who primarily chose to contact candidates by phone. While the average response rate reported by recruiters using the phone was 44%, recruiters who use LinkedIn InMails (the method with the second highest average response rate) had an average response rate of 35% – almost 10% less than those who use the phone:

While the average response rate reported by recruiters using the phone was 44%, recruiters who use LinkedIn InMails (the method with the second highest average response rate) had an average response rate of 35% – almost 10% less than those who use the phone:

 

contacting passive candidates

 

But if recruiters who use the phone are having far more success when contacting candidates why aren’t more recruiters picking up the receiver and dialling? Well, the No.1 reason our respondents cited for not using the phone was that they didn’t have the candidates contact details (41%)… But I’m afraid that excuse isn’t going to cut it any more recruiters. And while we know only a small number of people include their phone numbers on their social and professional networking bios, it doesn’t mean that finding a contact number is completely out of the question.

 

How to: Find Anyone’s Phone Number

If you know a potential candidate’s full name and the name of the company they’re currently working for, you can find the phone number of where they work very quickly on Google Maps. Think about it – you’re sitting at your desk right now doing your job. So, chances are your potential candidate is doing the very same thing. So, to get them on the phone right now, all you need to do is know the phone number of where they work. Something which is really easily found on the world’s largest business directory: Google Maps.

Go to google.com/maps, type in the name of the candidate’s company and it’s location (e.g. city/town if there are multiple locations in a country), click ‘Search’ and not only will Google show you the exact address for the premises, but it will also show you the landline phone number of that particular office:

 

contacting passive candidates

 

You can do this with any organisation no matter where you are and the best thing is, the number listed is usually better than the phone number stated on the company’s website – a number which usually goes to a call centre and isn’t actually answered at that particular location.

So, now there really is no excuse for not knowing someone’s contact details!

 

How to: Engage Passive Candidates Over the Phone

Now that you have their phone number, it’s time to pick up that dial and call your candidate. And to help you conquer your phone demons and start successfully engaging passive candidates over the phone, we’ve decided to treat you guys to an entire episode of our Black Belt in Internet Recruitment online training programme for FREE. Yep, you heard us, free, gratis and for nothing!

We’re giving you Access All Areas to the “Using the Phone” episode of our “Engaging Talent” module, where you’ll learn how to tackle the dreaded “Gatekeeper”, how to determine and stick to your objective during the call and how to close the call effectively so that your response rates rise dramatically. Click here to gain access.

 

Source: SocialTalent

A visual look at some of the statistics, themes and responses from the 2015 CIO 100

Source: CIO UK

A short while ago we wrote about how the IT staffing has been seeing a huge growth, despite the slow growth of business.Below, Apsco continue on this topic and also explain how the recent elections have affected employment.

 

  • Year-on-year figures show professionals seeking new roles increase by 59%
  • Month-on-month figures show an increase in both professional opportunities (up 14%) and in professionals seeking to move (up 28%)
  • Average salary change for those securing new positions increased to 19%

?

A Strong April

“We’ve seen increases from every angle; month-on-month, year-on-year for both job opportunities and those seeking new roles” says Hakan Enver, Operations Director, Morgan McKinley Financial Services. “This is in line with what we predicted last month. With bonus rounds coming to a conclusion at the end of the first quarter, April is typically a month where we see people actively looking for new roles.”

Growth in opportunities has continued to strengthen with a month-on-month increase of 14%. “From a job availability perspective, there has been some replacement, but there is a clear underlying trend of growth”, said Enver.

Yearly figures for job opportunities saw an increase of 17% with those seeking new roles showing a big jump of 59%.

 

Elections

The upcoming UK elections were the main theme throughout April. Despite jitters within the financial sector about the possible negative effects of a hung parliament, the actual impact on hiring was negligible. “The data shows that in the lead up to the elections hiring was not affected as many had predicted. In actual fact, the data clearly shows the opposite”, said Enver.

A key theme during the elections and particularly pertinent to the financial sector, is the UK’s future relationship with the European Union. [At time of writing, the UK election results showed that the Conservatives had won a majority vote and will serve another term in parliament.]

“As mentioned last month, most city professionals are against a UK exit from the European Union (EU), whilst remaining supportive of Conservative policies. Now that the Conservatives have regained full control, they are committed to a referendum on the Brexit in 2017. As a result, the debate about the UK remaining as part of the EU will become a major subject of interest for the financial sector.”

In a study published by the Centre for the Study of Financial Innovation (CSFI) surveyed over 400 financial services executives which found that the financial community is far more supportive of staying in the EU than the general public. With nearly three quarters of the financial executives polled saying they would either “definitely” or “probably” vote to stay in the EU.

“The majority in the City are clearly in favour of maintaining a relationship with our European counterparts. This is purely from a business perspective provided that the UK has more power and more autonomy running their businesses. Therefore, not necessarily completely dictated by those from abroad”, said Enver.

The results of the CSFI research are in strong contrast to a study conducted by Populus in April, which found that the British electorate deeply divided with 40% saying they wanted to remain in the EU, 39% wanting to leave and 17% undecided.

“The CSFI study appears to support the idea that the UK financial community’s attitude to the EU is based on pragmatism and the fear of the unpredictable ramifications of a Brexit.” Enver continued, “By completely breaking from the reigns of the EU, there could be a longer term impact to business in the UK. Not only would it create a  threat of jeopardising the trading alliances with the eurozone, but also the UK’s alliances with the US and the Middle East would be thrown into question. Equally, if the UK was to successfully renegotiate terms, there would be a considerable cost to the EU as a whole.”

The UK currently makes up over 10% of the total EU population. Figures from the Office for National Statistics show that in 2013, the net figures (which take into account the UK’s rebate) showed the UK’s overall contribution standing at a mammoth £11.3 billion to the EU.

 

Graduate Survey

As the number of jobs on offer continues to grow, there has been an increased focus on graduate hiring. Morgan McKinley conducted a study of 157 hiring managers to discuss the effects that the financial crisis had on hiring and their views on the current challenges they face.

The study found that 53% of companies felt no impact on their graduate hiring as a result of the financial crisis, with 9% even increasing hiring. In the current market 50% of respondents said the financial crisis no longer had any impact on their graduate hiring.

“There has been much discussion around the negative impact of the financial crisis on graduate hiring, but our data doesn’t support this. Exactly half said that it impacted their graduate hiring” explains Enver. ”If anything, it shows the UK finance sector as being resilient, even in the midst of a historical crisis.”

 

Data Graph 1

Data Graph 2

 

The future is also looking positive for graduates with a combined 68% of respondents stating that the biggest current challenges are a skills gap shortage (47%) and lack of future talent (21%).

 

Data Graph 3

 

Average Salary Increases

The average salary change registered in April 2015 was 19%. “With improved confidence, there’s still a trend to expect a far greater salary increase when moving roles and thus it is a major contributing factor to people looking for new opportunities”, said Enver.

 

Data Graph 4

Data Graph 5

Data Graph 6

Original Source: Apsco.org

If you want to capitalise on the continued employment trend improvements visit Certes IT recruitment website were you can find job roles in IT a variety of sectors and industries.