On common, US staff with AI expertise get a pay increase of as much as 25%, however in response to PwC, some jobs may get double that.
The consultancy analyzed half a billion job adverts from 15 nations to look at the impression of synthetic intelligence on employment, expertise, wages and productiveness. The report launched Tuesday stated the 25% premium for AI expertise within the US is larger than the 14% within the UK, 11% in Canada, 7% in Singapore and 6% in Australia.
Drilling down into particular person occupations, PwC discovered that US job postings for database designers and directors requiring AI expertise supplied salaries 53% larger than these within the class that didn’t require the abilities synthetic intelligence.
This isn’t stunning as knowledge facilities evolve as a result of generative AI know-how requires huge energy to coach massive language fashions like OpenAI’s ChatGPT. In reality, main synthetic intelligence chip provider Nvidia reported that income greater than tripled within the first quarter, pushed by knowledge heart gross sales.
However legal professionals may also improve their wage. US job postings for legal professionals with AI expertise promise salaries 49% larger than these for legal professionals with out AI expertise.
Likewise, gross sales and advertising managers with AI expertise can see a 43% wage improve, whereas monetary analysts and accountants can see a 33% and 18% improve, respectively.
“International locations and sectors with excessive demand for AI expertise are inclined to see larger wage premiums, particularly when there’s a scarcity of expert staff, whereas industries with extra plentiful AI expertise usually tend to decrease premiums,” Mehdi Sahne, senior economist at PwC UK, stated in an announcement. “Whereas on the floor, decrease wage premiums could appear much less favorable, ceteris paribus they recommend a steadiness between labor provide and demand and will probably promote better AI adoption and innovation in the long run.”
PwC additionally discovered that job progress is slowing by 27% in sure “AI-prone” occupations, equivalent to customer support, suggesting that AI is decreasing labor shortages.
The report notes that these knowledge don’t sign an period of job losses, however a interval of extra gradual progress.
Nevertheless, demand for some particular person expertise is skyrocketing, whereas some that may be carried out with AI are falling. For instance, demand for AI/machine studying expertise rose 113%, however demand for Javascript coding, which might be changed by AI, fell 37%, in response to PwC. Elsewhere, demand for laptop graphics expertise fell by 30% and demand for chilly calling expertise fell by 37%.
However different expertise that require a extra private contact are in better demand. Yoga expertise elevated by 426%, sports activities coaching by 178%, baby safety by 156%, and laser hair elimination by 84%.
“Many who predict that synthetic intelligence will result in drastic job cuts are asking the flawed query,” PwC stated. “Those that predict that AI may have a damaging impression on the entire variety of jobs typically look again to ask if AI can carry out some duties in the identical manner that it was completed up to now. The reply is sure. However the precise query is: How will AI allow us to do utterly new issues, creating new roles and even new industries?”
Earlier this month, the annual 2024 Labor Developments Index from Microsoft and LinkedIn discovered that 71% of CEOs favor to rent candidates with AI expertise over these with extra typical expertise, and solely 25% of companies plan to supply coaching this yr generative synthetic intelligence.
This may very well be a bonus for younger job seekers, because the report exhibits that 77% of managers intend to delegate extra obligations to early profession staff with AI expertise.