Having AI skills can boost your salary

The possibilities of artificial intelligence (AI) just seem to keep growing. New research shows that having AI skills in your professional repertoire could amount to potential salary increases.

Amazon Web Services has released new research showing that when workers fully harness AI, they could see potential salary increases. Salary improvements of around 29 per cent for workers is what the report has claimed, with workers in IT (37 per cent) and business operations (35 per cent) enjoying the highest pay bumps.

Another key insight from the report focused on the increased potential of career progression that employees could have when they master these various AI skills. Eighty-eight per cent of Australian workers expect their AI skills to have a positive impact on their careers, including increased job efficiency, greater job satisfaction, and improved job security.

This widespread theme of AI adoption has clearly galvanised other workers into jumping on the trend, with 77 per cent of surveyed workers indicating an interest in developing their AI skills to accelerate their careers.

For organisations, the productivity payoff from an AI-skilled workforce is immense and could create much larger benefits for Australia as a whole.

Surveyed employers expect their organisation’s productivity to increase by 46 per cent as AI technology automates repetitive tasks (64 per cent), improves workflow and outcomes (60 per cent), and enhances communication (56 per cent). Workers believe AI could raise their overall efficiency by as much as 45 per cent, which is huge for business outcomes and Australian business as a whole.

Business in itself is very copycat, and because AI has already proven to host a variety of benefits for various businesses, the majority are now jumping on this big wave and working around the clock to implement it into their daily routines.

The speed of transformation that we’re seeing in the AI/business space is unprecedented. The report stated that 90 per cent of employers envision their companies becoming AI-driven organisations by 2028.

Fraser Thompson, head of economic strategy at Access Partnership, echoed this sentiment: “The AI wave is sweeping across Australia, transforming the way businesses operate and the way we work. Research shows that society as a whole will benefit from an increased productivity boost, which will translate into higher salaries for skilled workers across the country.”

“With a growing number of organisations expected to deepen their use of AI solutions and tools, and the continual evolution of AI-driven innovations, there is a need for employers and governments to nurture a proficient workforce capable of steering current and future AI advancements.”

Along with nurturing a proficient workforce, the adoption process by employers must be one that is clear and comprehensible. AI implementation has a lot of moving parts and can prove to be extremely confusing for employees, especially if they are in the middle of upskilling and then new software is dropped on them.

It is crucial that employers have policies, guidelines, and a clear blueprint that is put out organisation-wide to ensure that the employees understand the vision for the use of AI and the ways in which the organisation’s leaders want it to boost productivity and efficiency.

If that process is unclear, then no matter how skilled or proficient the employee is when it comes to using AI, the productivity and the efficiency that is so desired may not be accomplished because the visions and goals aren’t clear. Although workers must adapt to these new technological advancements, it’s imperative that employers give them a clear pathway to do so.