On common, U.S. employees with synthetic intelligence skills command a wage premium of as much as 25%, however some jobs can get of a lift of double that, in line with PwC.
The consultancy analyzed half a billion job postings from 15 nations to look at AI’s affect on employment, skills, wages, and productiveness. In a report published Tuesday, it mentioned that the 25% AI-skills premium in the U.S. tops the U.Ok.’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 skills supply wages which are 53% greater than advertisements in that class that don’t require AI skills.
That’s not shocking as information facilities have been booming as a result of generative AI expertise requires massive quantities of capability to coach massive language fashions like OpenAI’s ChatGPT. In reality, high AI chip provider Nvidia reported revenue more than tripled in the primary quarter, led by gross sales to information facilities.
However attorneys may increase their pay as nicely. Job postings in the U.S. that search attorneys with AI skills promise wages which are 49% greater than advertisements for attorneys with out AI skills.
Equally, gross sales and advertising and marketing managers with AI skills can command a 43% wage bump, whereas monetary analysts and accountants may see beneficial properties of 33% and 18%, respectively.
“International locations and sectors which have a excessive demand for AI skills 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 plentiful provide of AI expertise, decrease premiums are extra doubtless,” Mehdi Sahneh, senior economist at PwC UK, mentioned in a press release. “Though on the floor decrease wage premiums might 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 progress, suggesting AI is easing labor shortages.
The report identified that the info aren’t signaling an period of job losses, however as an alternative a interval of extra gradual beneficial properties.
Nonetheless, some particular person skills are hovering in demand whereas some that may be carried out by AI are falling. For instance, demand for AI/machine studying inference skills has shot up 113%, however demand for coding in Javascript, which may be changed by AI, has fallen 37%, in line with PwC. Elsewhere, demand for laptop graphics skills is down 30%, and demand for chilly calling skills is down 37%.
However different skills that require extra person-to-person contact are seeing extra demand. Yoga skills 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 fallacious 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 approach as they’ve been achieved in the previous. The reply is sure. However the appropriate query to ask is that this: How will AI give us the facility to do fully new issues, producing new roles and even new industries?”
Earlier this month, the 2024 Annual Work Trend Index by Microsoft and LinkedIn discovered 71% of leaders most well-liked hiring candidates with AI skills over these with extra standard expertise, and solely 25% of corporations plan to supply coaching in generative AI this yr.
That might recommend a bonus for youthful candidates with the report revealing that 77% of leaders intend to delegate elevated obligations to early-career hires with AI proficiencies.