Job cuts have rocked tech giants last year, but one area remains in high demand for tech talent, especially developers. That’s right, artificial intelligence.
Review: In 2022, technology sector headcount reductions will occur as industry giants from Alphabet (GOOG, GOOGL) to Amazon (AMZN) to Meta (META) start sending thousands of employees to pack. It became a headline. Layoffs continue to pile up. We’re in the middle of 2023 and he’s laid off 216,910 tech workers this year, up from his 164,709 for the whole of last year, according to Layoffs.fyi data.
It’s a tough time for most tech workers, and the data is starting to show that. According to CompTIA, tech jobs fell by an estimated 171,000 last month, and the tech job unemployment rate rose to 2.3%. (National rate: 3.6%)
But what if you’re an AI engineer? Well, you’re crushing it now.
“There seem to be two narratives going on simultaneously in Silicon Valley,” said Jonathan Cedars, CEO and founder of Turing, a tech talent platform with clients such as The Walt Disney Company (DIS) and Johnson & Johnson. says. (JNJ) “Story one, from 2021 the good times are over and we all need to be more efficient in how we hire and scale. It just means I’m excited.”
He added, “Every board is asking their CEO what the ChatGPT moment means to them, and every CEO is asking their executive team to consider generative AI… in regards to AI projects and initiatives. We’re seeing a lot of excitement,” he added.
In fact, there is an “AI premium” when it comes to salaries, Layoffs.fyi founder Roger Lee said.
According to data from Comprehensive.io, another company Lee founded, senior software engineers who specialize in AI and machine learning are paid 12% more than engineers who don’t specialize in AI.
“Demand for AI and ML [machine learning] Josh Hendler, vice president of networking at Schmidt Futures, which recently launched an initiative called Tekalo, says, “There’s no denying that engineers are focused on large-scale language models. Conversations we’ve had show incredible demand from Empower engineers, product managers, designers, and other technologists to work in spaces that matter. “
“Climate change shows it most clearly,” Hendler added. “But there is also a lot of interest in the areas of education, human rights, technology policy, responsible technology (including the use of AI) and improving government service delivery.”
New businesses will also grow and emerge from the AI craze. This means more jobs in that sector.
“It’s creating new employers and new businesses,” said Josh Reeves, co-founder and CEO of HR software company Gusto. “It’s skyrocketing like crazy. This is something we haven’t seen during the pandemic.”
what’s next?
“It’s hard to predict the future, but I think I can say it objectively.” [layoffs and cost-cutting] Turing’s Siddharth said, “We know there will be another explosive explosion in the future, but objectively speaking, people seem to be more optimistic, and AI is taking a lot of that optimism. I think it’s encouraging,” he said. . “
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Ally Garfinkle Senior Tech Reporter at Yahoo Finance. follow her on her twitter @agarfinks and further LinkedIn.
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