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Are sky-high salaries the answer to the AI talent gap?
Working within AI (Artificial Intelligence) could see you earning a seven figure salary. With technology advancing at a rapid pace, demand for AI experts is constantly increasing, and with industry experts disagreeing on how much AI talent is out there it seems employers are assuming the worst and trying to outpitch each other in the salary attraction stakes.
Large, reputable companies, such as Amazon, Apple, and Google are dangling enticing salaries in a bid to lure top academics to work on teams that are developing digital assistants, self-driving cars and facial recognition. Even those who have recently earnt their PhD are seeing six figure salaries (according to Bloomberg, people with PhDs in machine learning and data science in the US can make more than $300,000).
Designing these highly coveted AI systems relies on experts who combine a strong understanding of statistics and high-level mathematics, with a background in data science and computer programming. With this combined skill set being so hard-to-come by, it’s difficult to determine just how shallow the talent pool in this area actually is. Having insight to this is extremely important for companies to make informed decisions on whether to outsource their systems or build them in-house; plus, it determines how much employers should be willing to fork out for experts with these skills.
In coming years, it is anticipated that an influx of newly qualified experts will begin to moderate salaries, but with 3 to 4 years until then, how can employers find the AI experts they need? Chris Rosebert, Head of AI & Robotics at Networkers, comments:
“Employers searching for AI experts are currently in a difficult position. However, one way they can attract potential candidates is by showcasing the top talent they already have working for them and the exciting projects they’re undertaking. The UK as a whole needs to invest more in supporting AI projects to retain the talent we’re producing.”
With a 3-4 year talent pipeline companies are now creating their own internal AI training programmes and experimenting with automatic machine learning (AutoML), which is essentially AI that creates its own AI. However, despite its profitability, the demand for expertise in this field hasn’t slowed down as businesses continue to attempt to entice candidates with fancy recruitment events and sky-high salaries.
To find out more, read Bloomberg’s full article.
Want to get into data science, but unsure how? Take a look at this piece of career advice.
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