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With the advent of artificial intelligence (AI) and the increasing demands for talents in that space, wages have significantly increased, driving up wages by 25 per cent, according to a report by PricewaterhouseCoopers (PwC).
Also, the Global AI Jobs Barometer report by PwC found that AI-related job postings have grown 3.5 times faster than other roles since 2016, with the UK, US, and Canada leading the way.
The report analysed over 500 million job ads from 15 countries and found that skills sought by employers were charging at a 25 per cent higher rate in occupations most exposed to AI.
According to the report, workers in those fields are hereby advised to acquire new skills to remain relevant.
The report stated: "AI could help boost productivity growth, leading to economic development and higher wages."
The Tax & Legal Services Leader, PwC UK, Carol Stubbings, said,
"AI is transforming the labour market globally and presents good news for a global economy hindered by deep economic challenges and concerns around long-term business viability.
“For many economies experiencing labour shortages and low productivity growth, the findings highlight optimism around AI, with the technology representing an opportunity for economic development, job creation, and the creation of new industries entirely.
“However, the findings show that workers will need to build new skills, and organisations will need to invest in their AI strategies and people if they are to turbo-charge their development and ensure they are fit for the AI age.”
