On common, U.S. employees with synthetic intelligence expertise command a wage premium of as much as 25%, however some jobs can get of a lift of double that, in keeping with PwC.
The consultancy analyzed half a billion job postings from 15 international locations to look at AI’s affect on employment, expertise, wages, and productiveness. In a report revealed Tuesday, it mentioned that the 25% AI-skills premium within the U.S. tops the U.Okay.’s 14%, Canada’s 11%, Singapore’s 7%, and Australia’s 6%.
Drilling deeper into particular person professions, PwC discovered that U.S. job advertisements for database designers and directors that require AI expertise supply wages which can be 53% greater than advertisements in that class that don’t require AI expertise.
That’s not stunning as information facilities have been booming as a result of generative AI expertise requires huge quantities of capability to coach giant language fashions like OpenAI’s ChatGPT. Actually, high AI chip provider Nvidia reported income greater than tripled within the first quarter, led by gross sales to information facilities.
However attorneys may increase their pay as effectively. Job postings within the U.S. that search attorneys with AI expertise promise wages which can be 49% greater than advertisements for attorneys with out AI expertise.
Equally, gross sales and advertising managers with AI expertise can command a 43% wage bump, whereas monetary analysts and accountants may see good points of 33% and 18%, respectively.
“International locations and sectors which have a excessive demand for AI expertise are likely to see greater wage premiums, particularly if there’s a shortage of expert professionals, whereas in areas the place there’s a extra ample provide of AI expertise, decrease premiums are extra doubtless,” Mehdi Sahneh, senior economist at PwC UK, mentioned in an announcement. “Though on the floor decrease wage premiums could sound much less favorable, all else being equal, they recommend a steadiness between labour provide and demand, and will probably foster larger AI adoption and innovation over the long run.”
The PwC additionally confirmed that sure “AI-exposed occupations” like customer support are seeing 27% slower job development, suggesting AI is easing labor shortages.
The report identified that the info aren’t signaling an period of job losses, however as a substitute a interval of extra gradual good points.
Nonetheless, some particular person expertise are hovering in demand whereas some that may be carried out by AI are falling. For instance, demand for AI/machine studying inference expertise has shot up 113%, however demand for coding in Javascript, which may be changed by AI, has fallen 37%, in keeping with PwC. Elsewhere, demand for laptop graphics expertise is down 30%, and demand for chilly calling expertise is down 37%.
However different expertise that require extra person-to-person contact are seeing extra demand. Yoga expertise are up 426%, sports activities instruction 178%, youngster safeguarding 156%, and laser hair elimination 84%.
“Many who predict AI will trigger a pointy decline in job numbers are asking the unsuitable query,” PwC mentioned. “Those that predict AI could have a damaging affect on complete job numbers usually look backward, asking whether or not AI can carry out some duties in the identical method as they’ve been completed previously. The reply is sure. However the fitting query to ask is that this: How will AI give us the facility to do solely new issues, producing new roles and even new industries?”
Earlier this month, the 2024 Annual Work Pattern Index by Microsoft and LinkedIn discovered 71% of leaders most popular hiring candidates with AI expertise over these with extra standard expertise, and solely 25% of corporations plan to offer coaching in generative AI this 12 months.
That might recommend a bonus for youthful candidates with the report revealing that 77% of leaders intend to delegate elevated duties to early-career hires with AI proficiencies.
