Within the past few months, European cities have entered the global stage to compete in an artificial intelligence (AI) arms race with tech hubs in the United States and China. While the high concentration of innovative companies in Silicon Valley or the busy streets lined with Fortune 500 companies in New York have enticed talented engineers worldwide, European cities offer a charm and promise of their own for data scientists and for jobs in data science. With ODSC London 2018 right around the corner, how does the European job market look now?
France set the precedent for Europe earlier this year, committing €1.5 billion to invest in AI research and development. In April, the European Commission followed suit and announcedthat it would also devote €1.5 billion to AI research funding with goals of increasing investments to €20 billion by the end of 2020, and just days after, the United Kingdom announced a £1 billion deal to invest in AI research as well.
While these are the largest investments promised to AI research by European governments, investments in the field, however, are not new. At the end of 2017, Europe had invested $3.5 billion into deep tech companies, which based on these recent announcements by the European Commission and global leaders like French President Emmanuel Macron, these figures are set to only increase.
When looking at the job growth of the technology sector, these financial commitments follow the way of the market. In comparison to other European jobs, tech positions are growing three times as quickly with a growth rate of 2.6 percent for technology positions compared to the overall European job growth rate of 0.8 percent, according to a 2017 State of European Tech report. Among other growing technical positions in Europe, Data Scientist ranked the 9th most in-demand technical role in the United Kingdom and France in 2017.
The median salary in European countries for this position was nearly $55,000, according to a 2017 O’Reilly report. Most of the respondents also reported salary gains over the past three years with over 30 percent of respondents seeing their wages increase by 50 percent or more.
With such a demand for these positions across the continent, we have taken a look at various economic and social factors to determine the best places for data scientists to live in Europe.