In 2024, the United Arab Emirates (UAE) is poised for a surge in workforce demand across five key sectors: Information Technology (IT), banking and finance, real estate and construction, oil and gas, renewable energy, as well as tourism and hospitality. Kasheef Akram, the CEO for the Middle East, North Africa, and Asia-Pacific at talent acquisition firm Caliberly, anticipates this trend.
According to Akram, the IT sector in the UAE is rapidly evolving and dynamic, emphasising innovation. The government’s commitment to transforming the UAE into a regional Information and Communication Technology (ICT) hub through substantial investments in infrastructure and education has fuelled a robust demand for skilled IT professionals. Specifically, expertise in artificial intelligence (AI), machine learning, data science, and cybersecurity is highly sought after.
The UAE’s AI market is projected to reach $1.9 billion (Dh6.97 billion) by 2026, with a compound annual growth rate of 36.2%. Initiatives aimed at enhancing AI capabilities across industries such as healthcare, finance, and retail are expected to drive this growth, necessitating a considerable number of AI professionals.
The country is becoming a global fintech hub, attracting start-ups and established players
In the banking and finance sector, the UAE’s resilience and adaptability in the global financial landscape, supported by a robust regulatory framework and diverse financial institutions, have led to consistent growth. The country is becoming a global fintech hub, attracting start-ups and established players. The potential adoption of a central bank digital currency (CBDC) could revolutionise the financial landscape. Consequently, there is a heightened demand for skilled professionals in roles such as financial and risk analysts, investment bankers, compliance officers, data scientists, and fintech experts.
Despite the positive outlook for these sectors, there is a significant challenge in meeting the demand for skilled professionals. Akram acknowledges a shortage of qualified personnel due to the rapid growth of the UAE’s economy, leading to increased competition for talent. A skills gap has emerged as technological advancements outpace workforce capabilities. Recruiters face difficulties finding candidates with the right blend of technical skills, soft skills, and experience.
Caliberly, with its specialist tools, experienced team, and regional expertise, stands out in addressing these challenges. Their AI-powered resume search tool accesses a vast database of over one million active jobseekers globally. The firm boasts an impressive industry selection ratio of 3:1 for resumes through talent mapping, headhunting, and a thorough candidate assessment process.
As 2024 unfolds with anticipated growth in various sectors, Caliberly’s innovative recruitment process is positioned to empower companies to focus on expansion while entrusting the search for qualified staff to its expert team.