Kainos Announces Major Job Creation in Northern Ireland
Northern Ireland's largest software company, Kainos, has revealed plans to create 341 new jobs over the next three years to address increasing customer demand for artificial intelligence (AI) solutions.
This expansion represents a £19.8 million investment, with 309 positions located in Belfast and 32 in Londonderry. The average salary for these roles is projected to be £58,000.
The new positions span various disciplines including software engineering, consulting, AI, and data science. Of these, 200 jobs are designated for graduates. Following this recruitment, Kainos' total workforce will reach 3,500 employees.
Leadership Perspective on AI and Workforce Growth
Kainos Chief Executive Brendan Mooney emphasized the significance of the investment, stating it reflects a trend of large organizations expanding their workforce in the cities of Derry and Belfast.
"When it comes to AI our views are very clear, it helps our people do more and do it more quickly which is a great result for our customers," he said.
"AI for us is an enabling technology rather than a replacement technology."
Mooney also addressed concerns about AI potentially causing job losses, expressing skepticism about the ability of large organizations to independently develop and deploy AI software solutions at scale.
Financial Performance and AI Revenue Growth
Kainos reported that revenues from AI and data-related projects increased by 11% in the past year, reaching nearly £46 million. These projects now account for approximately 20% of the revenue within its digital services division.
In its recent annual results, Kainos announced a 17% increase in sales to £431 million and a 2% rise in pre-tax profit to £67 million.
Government and Investment Support
Economy Minister Caoimhe Archibald described the announcement as "a strong vote of confidence in our growing tech sector and the highly skilled people who work here."
She further noted that AI has the potential to drive the creation of new high-value jobs across the economy.
Kieran Donoghue, Chief Executive of Invest NI, confirmed that his organization would contribute £1.5 million towards supporting the new jobs.
"It's a significant announcement because it's an example of a company headquartered in Northern Ireland, operating globally – reinvesting in its business in Northern Ireland when the company had choices about where it could invest," he said.
"This shows that AI can actually create jobs.
We all accept it will displace some roles, but in our experience in Invest NI, what our clients are doing is embracing the technology and upskilling people within the business to work on higher added value functions."
