CBRE: Companies Add AI Expertise Amid Slower Tech Talent Growth
(Illustration courtesy of Konstantin Olsen/pexels.com)
Overall tech job growth has slowed, but the adoption of artificial intelligence has increased demand for AI-specialty tech talent, according to CBRE’s annual North America Scoring Tech Talent report.
Overall U.S. tech talent employment grew only 1.1% (64,140 jobs) in 2024, far below its 7% peak growth rate in 2022. Canada had stronger growth than the U.S. at 5.9%, adding 66,600 tech talent jobs overall, primarily in the high-tech industry. The number of computer and information systems managers surged in the U.S. (+9%) and Canada (+16%) due to the widespread adoption of AI, making that job the fastest growing among all tech talent roles across North America. In 2024, computer and information systems managers accounted for 83% of U.S. tech talent job growth.
Colin Yasukochi, executive director of CBRE’s Tech Insights Center, noted the rapid development and adoption of AI is generating economic growth across major tech hubs such as the San Francisco Bay Area, Seattle and Manhattan. “These markets are receiving record amounts of venture capital funding and corporate investment in AI initiatives, which often results in hiring and future office demand,” he said. “The AI industry could be the catalyst for another growth cycle among office-using companies, boosting the office market’s recovery.”
Multiple Dynamics Influence Market Rankings
CBRE’s Scoring Tech Talent report analyzes 75 North American markets and ranks the top 50 tech markets in the U.S. and Canada. Tech talent refers to highly skilled workers across over 20 technology-oriented occupations, including computer and information systems managers, software developers and hardware engineers, across all industries. The market rankings are determined by a weighted analysis of 13 metrics such as tech talent concentration, tech talent pipeline and research and development investment.
The top five ranked tech talent markets are the San Francisco Bay Area, Seattle, Toronto, New York Metro and Austin. Toronto switched places compared with last year’s list. Canada’s Waterloo Region, located outside of Toronto, entered the top 10 for the first time due to strong job growth of computer and information systems managers, software developers and programmers. Besides the Waterloo Region (up 11 spots) the biggest gainers within the top 50 are Edmonton (up 11), Orlando (up 5), Quebec City (up 5), Raleigh-Durham (up 4) and Pittsburgh (up 4).
