Workers with skills in artificial intelligence (AI) are in high demand and earn 21% more on average, with the potential to earn up to 40% more, according to a study by researchers from the Oxford Internet Institute and the Center for Social Data Science at the University of Copenhagen.
“We know we never apply skills in isolation,” the researchers explain. “Using this data, we saw which proficiencies were most sought after and which sets were in demand together, this allowed us to give skills and complementary skills a financial value based on the demands of the labor market.”
Valuable skills
The study found that the value of AI skills is greatly enhanced because they can be combined with other valuable skills. This ability to work well with other competencies is what makes AI skills particularly valuable.
The rise of new technologies, especially AI, has had a big impact on the value of skills. Among AI skills that are in demand, the top five that increase a worker’s wages the most as a percentage are:
- Machine Learning (+40%)
- Tensor Flow (+38%)
- Deep Learning (+27%)
- Natural Language Processing (+19%)
- Data Science (+17%)
Combinations
The results indicate that skills gain more worth when they can be effectively combined with other skills. For instance, skills like data analytics are highly valuable because they can be seamlessly integrated with other high-value skills. In contrast, skills such as photo retouching have limited versatility and can only be combined with a specific set of skills, resulting in a lower overall value.
“Conceptualizing the relationship between skills as a network enabled us to show the context dependency of human capital,” the researchers conclude. “Our findings have profound implications for individuals, businesses, and policymakers. By recognizing the value of complementarity, we can better guide workers on their individual reskilling journeys in times of technological change.”
