Untapped digital talent: the £3bn opportunity

Talent shortages cost the financial, professional services, and technology sectors nearly £300 million in lost profits in 2024 alone.  

The City of London Corporation’s Women Pivoting to Digital Taskforce has launched its flagship report “Untapped Digital Talent: the £3bn opportunity”. The report spotlights how UK employers can meet the rising demand for digital talent. It draws on employer insights and industry-wide. It also shows how current talent shortages in AI, data, cyber and software development are constraining productivity and weakening UK competitiveness.  

But there are cost-effective alternatives: investing in untapped talent pools through reskilling programmes and hiring from non-traditional pathways. Women at mid-career are an underutilised pool of talent, making up less than 20% of the digital workforce. They often have in-demand transferable skills and the ambition to excel in these roles. 

• The UK faces a digital skill shortage, with 12,100 digital roles in financial and professional services and technology going unfilled in 2024. This cost the UK nearly £1 billion in Gross Value Average and £296 million in profits.
• If the digital talent gap persists across these sectors, the UK economy could lose £10.8 billion in productivity and £3.3 billion in profits over the next decade.
• By 2035, AI and automation could displace hundreds of thousands of women’s jobs; without reskilling, firms could face up to £757 million in severance costs.
• Employers like Lloyds Banking Group and Aviva are rapidly expanding their digital workforces by investing in alternative recruitment routes. Taskforce partners using structured reskilling programmes report converting 80–90% of participants into permanent roles.

“The City of London is one of the world’s most exciting places to build a career where innovation, ambition and talent come together, and where people from all backgrounds can thrive. Women are already making a powerful contribution to the digital economy, bringing fresh perspectives, skills and creativity that help businesses grow and compete globally. 
 
“By investing in people and supporting the development of digital skills within the workforce, employers can unlock enormous potential and build stronger, more resilient teams. Focusing on talent, adaptability and opportunity will ensure the UK continues to lead on innovation and remains a global hub for digital excellence.”

Dame Susan Langley, The Lady Mayor of the City of London

For more information, download the extended version of 'Untapped Digital Talent: the £3bn opportunity'. 

Untapped Digital Talent: The £3bn Opportunity Webinar

Untapped talent is everywhere.  Reskilling and non-traditional hiring can help you access them.  Find out how in our webinar. 

Join us for this practical employer focused webinar, where we’ll walk through the finding from the City of London Corporation’s Women Pivoting to Digital Taskforce report “Untapped Digital Talent: the £3bn opportunity”.

19^th March 2026 – 12:00 – 13:00.