AI skills acting as catalyst for higher salaries

A survey has found employees are willing to pay 44% more for workers skilled in artificial intelligence (AI) for the IT sector and 41% more for staff working in research and development.

The study was conducted by Access Partnership on behalf of Amazon Web Services, with the key outcome being a scarcity of AI-skilled staff across various industry areas. In response, employers are willing to increase remuneration to future-proof their workforce.

4,664 employers and 14,896 workers across several Asia-Pacific markets, including Australia, Japan, South Korea, Singapore, India, and Indonesia, were polled.

The findings detailed India as willing to provide the greatest increase across the region, offering a 54% salary spike, compared to an average of 33%, for workers who attain the relevant AI knowledge.

In sales and marketing, employers are prepared to splash out a further 39% increase, the same in business operations, whilst in finance, the figure stands at 37%.

What would employers get in return for higher salaries?

The AWS survey outlined there would be no ‘giveaway’ in salary gains for Asia-Pacific workers, which is expected to be proportional to increases in productivity as part of AI implementation.

Employers believe AI can boost productivity by more than half (51%) if fully leveraged across all functions, with staff on board with this aim. Those questioned said AI can increase productivity up by 50%.

On improvements to daily activity, 64% of employers stated task automation with 60% citing improved workflow and outcomes. A further 59% believe communication would be enhanced and 49% said innovation and creativity would be harnessed.

IT, business operations, and finance were identified as key departments to gain from the rollout of AI with scores of 91%, 89%, and 88%, respectively.

In terms of the departments that would benefit most from AI, 91% pointed to IT, while 89% and 88% highlighted business operations and finance, respectively.

The vast majority, 93%, believe AI skills will have a positive impact on their careers, acting as a catalyst for improvements such as better job satisfaction and faster career progression. 83% want to develop the requisite AI skills, including 87% of Gen Z workers and 79% of Gen X.

In a further breakdown, 68% of the workforce aged 55 or above, baby boomers, are ready to take on AI upskilling if presented with the opportunity.

Image credit: John Guccione/Pexels

Read More

Graeme Hanna