Overall tech job growth has slowed, but the adoption of artificial intelligence (AI) has increased demand for AI-specialty tech talent, according to CBRE’s latest Scoring Tech Talent report. This propelled Toronto, with the fourth largest AI talent pool in North America (23,936 workers) up to the No. 3 spot in this year’s ranking. Waterloo Region rose an impressive 11 spots over its 2024 ranking to move into the No. 7 position due to strong job growth of computer and information systems managers. Vancouver moved up to the No. 10 spot while Ottawa came in at No. 11. Montreal was No. 15, same as last year, said the real estate firm.
Canada (+5.9%) had stronger tech talent growth than the U.S. (+1.1%) in 2024, adding 66,600 tech talent jobs overall, primarily in the high-tech industry. The report notes that the number of computer and information systems managers surged in Canada (+16%) due to the widespread adoption of AI, making that job the fastest growing among all tech talent roles across North America, added CBRE.
Paul Morassutti
“Artificial intelligence is a transformative technology that is rapidly reshaping the employment landscape across the world, particularly in Canada, which has three of the Top 10 largest AI talent pools in North America in Toronto, Vancouver and Montreal,” said CBRE Canada Chairman Paul Morassutti. “The ongoing deployment of AI systems across industries will continue to drive job growth and real estate demand.”
Multiple Dynamics Influence Market Rankings
CBRE said its annual 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 and New York Metro switched places compared with last year’s list. Besides 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), said CBRE.
Top 10 Tech Talent Markets Overall
| Market | Composite Score | 2024 Ranking |
| 1. San Francisco Bay Area | 83.69 | 1 |
| 2. Seattle | 69.54 | 2 |
| 3. Toronto | 68.48 | 4 |
| 4. New York Metro | 67.60 | 3 |
| 5. Austin | 65.07 | 5 |
| 6. Washington, D.C. | 64.61 | 6 |
| 7. Waterloo Region | 63.41 | 18 |
| 8. Dallas-Ft. Worth | 62.66 | 9 |
| 9. Boston | 62.19 | 7 |
| 10. Vancouver | 61.53 | 11 |
New York (47,940) and Dallas-Ft. Worth (47,100) added the most tech talent jobs between 2021 and 2024. Among Canadian markets, Toronto maintained the lead in total tech talent and added the most jobs between 2021 and 2024 (42,900). The fastest growing Canadian markets over this time span were Calgary (61%) and Waterloo (58%), added the report.
CBRE said it also analyzed emerging markets in Latin America, where tech talent grew 55% between 2019 and 2024, more than triple the U.S. average. Mexico City remains the top Latin American tech market while Monterrey, Mexico, registered the most tech talent growth (112%).
Photo: CBRE
Companies Shift Priorities for Tech Talent
Tech companies slowed tech talent hiring from a peak in 2022 and often opted to realign their workforce to pursue AI-related initiatives. Organizations have already begun to strengthen the AI expertise of their existing workforce and to hire specialized talent. CBRE’s analysis of LinkedIn data found that tech talent workers with AI skills grew more than 50% year-over-year to 517,000 as of mid-2025, it said.
AI Tech Talent by Market
| Market | AI Talent Pool |
| 76,079 |
| 47,245 |
| 32,965 |
| 23,936 |
| 22,847 |
| 20,477 |
| 20,073 |
| 19,900 |
| 14,589 |
| 12,649 |
Real Estate Considerations
“The rapid growth of AI-related companies led to a rebound in office leasing activity by the high-tech industry. In the first half of 2025, tech companies accounted for 12.7% of total Canadian office leasing activity, up from 9.8% in 2023,” explained CBRE.
“Total operating costs for tech companies increased in 2024 due to higher average wages, even as many organizations reduced their real estate footprint. The total annual labour and real estate costs for a 500-person tech company occupying 60,000 sq. ft. of office space ranged from US$35 million in Edmonton to US$87 million in the San Francisco Bay Area.
“Demand for AI-related roles contributed to increased tech talent wages, which grew by 3.9% in the U.S. and 5.2% in Canada in 2024. Tech wages can generally cover the cost of living in most of the priciest markets, based on the affordability standard of 30% of income to housing. The ratio of tech wages to apartment rents ranges from 29.3% in Manhattan to 12.9% in San Antonio.”
Colin Yasukochi
“The rapid development and adoption of AI is generating economic growth across major tech hubs like 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,” said Colin Yasukochi, executive director of CBRE’s Tech Insights Center. “The AI industry could be the catalyst for another growth cycle among office-using companies, boosting the office market’s recovery.”
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024 and 2025.
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