< strong>The research, which analyzed more than half a billion job postings in 15 countries, shows that AI could lead many nations to economic growth, achieving higher wages and improved living standards.
The survey finds that for every job posting in 2012 that required specialist AI skills (such as machine learning), there are now seven job postings. PwC's research also shows that the growth of jobs requiring IT skills has surpassed any previous record, with growth 3.5 times greater than for all jobs.
The findings of the Barometer also point to the economic opportunities created for the workforce. The jobs, which require IT skills, offer up to 25% higher salary than the average in some markets.
The skills employers are looking for are changing much faster in occupations that use more AI. More traditional skills are disappearing and new ones are appearing in job postings at a 25% higher rate than in occupations that do not use AI.
As questions mount about the technology's broader impact, from job security to long-term business sustainability, the findings identify positive developments, even for workers in sectors that make the most use of AI. In particular, IT-savvy workers are seen as more productive and more valuable, opening up a window of opportunity to improve the welfare of workers and countries. As with previous technological revolutions, from electricity to computers, AI is changing what it takes for workers to succeed – and those who adapt can enjoy the enormous new perspectives it opens up.
Almost fivefold increase in productivity in areas that use Artificial Intelligence
The Barometer findings paint a positive picture of the impact of AI on labor markets and productivity. Sectors such as financial services, information technology and professional services that use IT show almost five times higher labor productivity growth than sectors that do not.
The positions jobs that require artificial intelligence skills offer significantly higher salaries
In the five major labor markets for which wage data are available (US, UK, Canada, Australia and Singapore), jobs requiring specialized IT skills command significantly higher wages (up to 25% on average in the US), underscoring the value companies place on these skills. Across all industries (in the US for example), this can range from 18% for accountants, 33% for financial analysts, 43% for sales and marketing managers, to 49% for lawyers. While the highest wages differ from market to market, they are overwhelmingly higher in all the markets analyzed.
There is no going back to the old labor market data: the development of new skills is imperative< /strong>
Companies, workers and policymakers share the responsibility to help workers develop the skills needed to succeed in a rapidly changing job market. The skills required by employers in occupations that use AI are changing at a 25% higher rate than in other occupations. Characteristically, 69% of CEOs expect that IT will require new skills from their workforce, with the percentage rising to 87% of CEOs who have already incorporated IT into their organizations, according to PwC's 27th Annual Global Survey of CEOs.
