U.S. Faces $500 Billion Annual Productivity Gap Due to Lack of AI for its Nearly 40 Million STEM Workers

NEW YORK: STEM workers in the United States waste over six hours a week due to lack of access to advanced AI tools, according to a new survey of more than 2,500 industry professionals. Additionally, the research conducted by Specialist Staffing Group, the only global STEM specialist talent partner focused on roles in science, technology, engineering, and mathematics, reveals the impacts of trust in the workplace and value of soft skills over technical expertise.

“Businesses need to implement AI-related changes to boost productivity. The reluctance to embrace AI risks our economic future,” said Matt McManus, President, Specialist Staffing Group. “STEM professionals can clearly identify AI’s benefits. Business leaders must catch up with rapid technological development and be more open-minded about AI. Failing to act now hinders growth and risks losing top talent.”

Key findings and related data from the research include:

STEM workers are unhappy with the levels of AI adoption by their company, and hurts their bottom line:

• The U.S.’s 36.9 million STEM workers waste an average of 6.18 hours every week because they lack access to advanced AI tools
• This equates to more than $10 billion a week in lost productivity
• 75% of U.S. respondents said the adoption of advanced technologies like AI would have a positive impact on their organizations growth, yet 69% rate the level of implementation as average or lower

Trust at work impacts wellbeing and retention for STEM employees:

• Less than half (40%) trust leadership to make decisions in the long-term interest of the organization, employees and owners
• 44% of employees don’t trust they will be fairly compensated and rewarded for work successes; that jumps to 65% when considering those who are neutral
• Only 39% of respondents say leadership takes staff wellbeing seriously
• Just over a third (35%) of respondents say they’re committed to staying with their current organization for the foreseeable future

Across management levels, STEM employees value soft skills more than technical expertise:

• Soft skills are preferred over hard skills by employees regarding both their managers (56% vs 44%) and organizational leadership (60% vs 40%)
• 68% of respondents said the ability to inspire and motivate is a more important leadership skill than technical expertise
• Less than a quarter of respondents (23%) agree that high performing teams are often led by leaders with stronger hard skills than soft skills

The research spanned five of the world’s most developed STEM economies: the U.S., UK, Japan, Germany, and the Netherlands. Full findings from the “How the STEM World Works” report are available here.

Notes to editors

* Study was conducted by FT Longitude. The survey of 2,597 respondents took place from July 10 – Aug 11, 2024.

** Mean hours lost in the U.S. sample is 6.18hrs/week for question respondents. In the U.S., 36.8 million people work in STEM roles (according to the National Science Board). This implies 36.8M x 6.18hrs = 227,424,000 hours lost weekly, or ~12 billion hours lost annually. The average hourly wage for a U.S STEM worker is approximately $45 per hour. $45 x 11.83B lost hours annually = ~$532B in lost productivity.

About Specialist Staffing Group

Specialist Staffing Group brings skilled people together to build the future. We are the only global STEM specialist talent partner focused on roles in Science, Technology, Engineering, and Mathematics (‘STEM’), providing permanent and flexible contract talent to a diverse base of more than 7,200 clients across 11 countries.

Fonte: Business Wire