The rapid spread of artificial intelligence is changing the workplace. While much has been said about the potential threat of this technology, i.e. job displacement, another trend is emerging in parallel. That means companies are looking to hire employees with her AI skills and are willing to pay them top dollar.
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The Wall Street Journal reports that companies are competing for talent and trying to avoid losing out to rivals, with salaries reaching nearly seven figures.
For example, Netflix has job postings for product manager positions for their machine learning platform. The position offers total compensation of up to $900,000 annually, according to the post.
The Wall Street Journal also reported that online dating platform Hinge is hiring a president of AI. This position has an annual base salary of $332,000 to $398,000. Meanwhile, his official salary for VP of AI and Machine Learning at Upwork ranges from $260,000 to his $437,000, while the highest salary for Senior Manager of Applied Science and Generative AI at Amazon is his $340,300. Walmart is hiring for the following positions: Conversational AI team. Walmart offers a base salary of $168,000 to $252,000 per year.
While fearmongers scream about how many jobs generative AI will destroy, the reality is more complex, said Peter Cohan, associate professor of management practice at Babson College.
Cohan said generative AI will create some new jobs, take the grunt work out of many other jobs, and, as many fear, eliminate jobs.
But he also noted that only a fraction of the new jobs created by generative AI will be workers with the education and experience needed to land offers of more than $1 million.
“The average worker is not qualified for such a job, and it is unlikely that they will be able to gain the education and experience necessary to qualify before the generative AI boom stalls,” Cohan said. Ta. “When I read that the Generative AI job was going to be $900,000, my first thought was that the high salary was typical of a growing bubble. How long does a bubble inflate before it bursts? depends on whether companies can continue to invest in high-return generative AI applications to justify hiring such expensive talent, if generative AI fails to deliver. People who take it may lose their jobs.”
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As The Wall Street Journal explained, some companies say they need to train existing employees to work on AI projects because they have too few mid- or senior-level employees with the necessary skills. states. Doing so also costs money.
“AI talent is hard to come by. It's expensive. And at the same time, it's very selective,” Bill McDermott, CEO and chairman of ServiceNow, told The Wall Street Journal. “People want to go to a place where they can not only prosper financially but also work on things that inspire them, because they have the ultimate choice.”
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