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AI skills acting as catalyst for higher salaries

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A recent survey discovered that companies are willing to pay 44% more for individuals proficient in artificial intelligence (AI) within the IT industry and 41% more for employees engaged in research and development.

The research, commissioned by Amazon Web Services and conducted by Access Partnership, highlighted a shortage of AI-skilled workers in various sectors. In response, employers are open to increasing salaries to ensure their workforce is future-ready.

Over 4,600 employers and nearly 15,000 employees in multiple Asia-Pacific markets, such as Australia, Japan, South Korea, Singapore, India, and Indonesia, participated in the study.

The survey revealed that India leads the region in offering a significant 54% salary hike, compared to the average of 33%, to workers who acquire AI skills. Employers in sales and marketing are also willing to provide a 39% raise, with similar trends in business operations (39%) and finance (37%).

What are the expected outcomes of these increased salaries?

According to the AWS survey, there will be a balanced trade-off for Asia-Pacific workers in terms of higher salaries, which are anticipated to align with enhanced productivity resulting from AI integration.

Employers believe that through full utilization of AI across all functions, productivity could surge by over half (51%), with employees aligned with this objective. Survey respondents indicated an expected 50% increase in productivity due to AI adoption.

Employers foresee task automation (64%), improved workflow and outcomes (60%), enhanced communication (59%), and increased innovation and creativity (49%) as key areas of improvement in daily operations.

IT, business operations, and finance were identified as pivotal departments set to benefit from AI implementation, with scores of 91%, 89%, and 88%, respectively.

Regarding the departments expected to gain the most from AI, 91% emphasized IT, while 89% and 88% highlighted business operations and finance, respectively.

The majority (93%) of respondents believe that AI skills will positively impact their careers by fostering enhancements like increased job satisfaction and accelerated career advancement. An overwhelming 83% express a desire to cultivate AI skills, including 87% of Gen Z workers and 79% of Gen X employees.

Furthermore, 68% of older employees aged 55 and above, known as baby boomers, are enthusiastic about upskilling in AI if the opportunity arises.

Image credit: John Guccione/Pexels

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