Companies highlight the significance of AI competencies - offering a substantial salary boost of around $18,000 per year to those possessing these skills.
A recent study conducted by job insight website LightCast has shed light on the growing trend of employers favouring workers with Artificial Intelligence (AI) skills. The study, which analysed over a billion job postings, has identified over 300 possible AI skills that are increasingly in demand.
According to the report, the roles with the highest differences in pay between workers with AI skills and those without are in customer support, sales, and manufacturing. Employers are willing to pay premium salaries for workers with AI skills, with an average annual salary increase of nearly $20,000 for those possessing these skills.
The most common AI skills employers requested were ChatGPT and Microsoft Copilot. Interestingly, non-technical roles have seen an 800% increase in demand for AI skills since November 2022. This trend is further evident in the fact that entry-level college graduates are getting six- or seven-figure salaries due to their proficiency with AI.
The study also found that jobs requiring AI skills pay 28% more than jobs that don't require AI. Jobs requiring two or more AI skills pay 43% more, indicating a significant premium for workers with advanced AI skills. Since ChatGPT launched in November 2022, demand for generative AI skills for non-technical roles increased by 800%.
The report also highlighted that non-technical sectors have demanded AI skills more than technical ones, according to LightCast's findings. This shift towards AI skills in non-technical roles is further evidenced by the plans of companies like Databricks, a data analytics firm, to hire triple the number of recent graduates this year due to their ability to use AI.
The study also addressed the impact of AI on employment rates. Stanford University released a report last week stating that AI-impacted jobs saw employment for workers ages 22 to 25 decline by 13% over the past three years. However, the report from The Wall Street Journal did not provide specific examples of AI-impacted jobs that saw employment declines for workers ages 22 to 25.
Erik Brynjolfsson, the study's first author and Stanford Professor, stated that there's evidence that AI is beginning to have a big effect. Elena Magrini, Head of Global Research at LightCast, echoed this sentiment, stating that job postings are increasingly emphasizing AI skills, and employers are willing to pay premium salaries for them.
In conclusion, the study by LightCast underscores the growing importance of AI skills in the job market. With employers not only looking for workers with AI skills but also paying them more, it is clear that acquiring AI skills can lead to significant salary increases and career advancement opportunities.
