Artificial intelligence (AI) software is used in many industries today. AI is used in different areas such as customer service, human resources, logistics, education. Such programs are often criticized for requiring less labor and leaving many people unemployed. However, the use of artificial intelligence has also led to the birth of a new line of business. Leading US companies compete to hire AI developers or engineers. Some are willing to pay close to zero salaries to recruit the best talent. The rush to recruit also increases the salaries of technical staff.
Salary up to 900 thousand dollars
The most talked about job posting lately is undoubtedly the one belonging to the entertainment platform Netflix. Netflix has posted an AI product manager posting on its site that will receive a salary of between $300,000 and $900,000 per year, including salary and bonuses. The person who will get the job will be able to work at the headquarters in Los Angeles or remotely. Moreover, there is no university degree requirement in the advertisement. It is noteworthy that this posting was made in the US when employees in the entertainment and film industries were on strike for better-term contracts and against AI-driven layoffs.
Netflix is headquartered in Los Angeles.Earlier this month, retail giant Amazon announced that it has opened a position for a senior AI manufacturing unit manager, with a salary of US$340,000 per year excluding bonuses. Amazon is one of the leading companies in integrating AI into their operations. The company has been monitoring its employees with AI-based technology since 2020 to ensure that employees in its offices and warehouses maintain social distance during the pandemic.In addition, Amazon has acquired Snackable.AI, a small voice-focused artificial intelligence company.
An AI executive at US grocery chain Walmart earns up to $288,000 a year. Technology giant Google also pays a lawyer specializing in artificial intelligence $ 351,000 annually. Online dating app Hinge is looking for a vice president for the AI department for $398,000. According to the New York-based company, the person selected for this position can work remotely.
Financial companies are also looking for
Not only technology and retail companies, but also financial institutions are paying heavily to their AI-skilled staff. Goldman Sachs is looking for an AI division vice president for $250,000 and an AI engineer for $240,000 a year. Financial firms like JPMorgan Chase and Ernst & Young also pay their AI-related staff salaries of up to $200,000 a year.
Amazon is one of the most integrated organizations with artificial intelligence.Human resources experts say salaries are high as the current supply of AI practitioners remains below demand, especially for mid- and senior-level positions. Paul J. Groce, president of the Americas and partner at recruiting firm Leathwaite, where he’s worked for years looking for top tech talent, said, “It’s a purely market economy. “We don’t have thousands of AI developers and product managers.”
Different strategies to get an AI expert…
Each company can follow a different strategy in recruiting staff. Companies such as Accentura, which provides consulting services, are recruiting individuals. The firm also trains its own staff through in-house training programs. For example, Accentura plans to hire more than a thousand new AI employees next year. However, Vinay Menon, one of the directors of the company, says that there are not enough staff, so companies should train their own personnel. “Companies realize that they can’t afford to pay for staff shortages,” says Menon.
Others, like tech company ServiceNow, see buying smaller AI startups as a way to recruit skilled workers. Moreover, ServiceNow has acquired artificial intelligence companies Element AI and G2K in recent years. Bill McDermott, the firm’s CEO and president, says that in the future it will also buy small AI companies that have the AI researchers, data scientists and other professionals the company needs. “AI talent is difficult and expensive to acquire,” McDermott says.
Sources: WSJ, New York Post, Fortune
