[Global] AI skills can increase earning potential by up to 40%

New research has revealed that AI skills and knowledge can increase a worker’s salary by as much as 40 per cent, Just Style reports.

The study - published by the Oxford Internet Institute (OII) - examined over 1000 different skills and 25,000 workers. It found that AI-related knowledge on topics such as machine learning and data science increased the potential salaries that workers could earn.

In addition, the findings reportedly examined the relationship between a skill’s value and its likelihood of being combined with other worker skill sets. 

Skills such as data science were found to be more valuable than photo retouching since knowledge of data science was more likely to be combined with other high-value skill sets.

Dr Fabian Stephany - study co-author and research lecturer in AI at OII - talked to Verdict about what this study means for the future impact of AI on the workplace.

When asked about the possibility of AI replacing human workers entirely, Dr Stephany was reportedly confident that AI would augment work rather than replace people.

“This [study] is one piece of evidence that suggests AI not replace people on a massive scale, but it will actually be very profitable for people to work with AI,” he said.

Dr Stephany stated that, while AI wouldn’t completely automate work, it would instead lead to a wide-scale reskilling of workers. Skills such as machine learning - what he described as “backbone” expertise for AI - were now being used in sectors outside of IT or academia and workers in the legal or design sectors were now increasingly required to understand AI.

“Right now,” Dr Stephany said, “we don’t see any indication that AI will lead to half of the labour force being automated away.”

Following his company’s struggles to hire workers with AI skills, Vivek Mahajan - Fujitsu’s CTO - recently commented about a future “talent crunch” that could be faced within AI as a result of its growing ubiquity beyond traditional IT roles.

Referencing AI’s sudden and “[speedy]” rollout together with the high prerequisites that workers need to gain skills in AI (such as higher education), Mr Mahajan reportedly said that AI could soon face a serious shortage of talented workers.

Dr Stephany’s full study - What is the price of a skill? The value of complementarity - is available here.

Source: Just Style

(Links and quotes via original reporting)

New research has revealed that AI skills and knowledge can increase a worker’s salary by as much as 40 per cent, Just Style reports.

The study - published by the Oxford Internet Institute (OII) - examined over 1000 different skills and 25,000 workers. It found that AI-related knowledge on topics such as machine learning and data science increased the potential salaries that workers could earn.

In addition, the findings reportedly examined the relationship between a skill’s value and its likelihood of being combined with other worker skill sets. 

Skills such as data science were found to be more valuable than photo retouching since knowledge of data science was more likely to be combined with other high-value skill sets.

Dr Fabian Stephany - study co-author and research lecturer in AI at OII - talked to Verdict about what this study means for the future impact of AI on the workplace.

When asked about the possibility of AI replacing human workers entirely, Dr Stephany was reportedly confident that AI would augment work rather than replace people.

“This [study] is one piece of evidence that suggests AI not replace people on a massive scale, but it will actually be very profitable for people to work with AI,” he said.

Dr Stephany stated that, while AI wouldn’t completely automate work, it would instead lead to a wide-scale reskilling of workers. Skills such as machine learning - what he described as “backbone” expertise for AI - were now being used in sectors outside of IT or academia and workers in the legal or design sectors were now increasingly required to understand AI.

“Right now,” Dr Stephany said, “we don’t see any indication that AI will lead to half of the labour force being automated away.”

Following his company’s struggles to hire workers with AI skills, Vivek Mahajan - Fujitsu’s CTO - recently commented about a future “talent crunch” that could be faced within AI as a result of its growing ubiquity beyond traditional IT roles.

Referencing AI’s sudden and “[speedy]” rollout together with the high prerequisites that workers need to gain skills in AI (such as higher education), Mr Mahajan reportedly said that AI could soon face a serious shortage of talented workers.

Dr Stephany’s full study - What is the price of a skill? The value of complementarity - is available here.

Source: Just Style

(Links and quotes via original reporting)