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May 28, 2024, 2:54 a.m.
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According to a report from PwC, skilled AI professionals in sectors like professional services, IT, and finance can expect higher salaries, with a strong demand for AI expertise in the US offering a wage premium of up to 25%. Sales and marketing managers and financial analysts may see even greater wage increases. Despite concerns about job losses, AI-demanding jobs have grown at a faster rate than all others since 2016, especially in the financial services industry. However, organizations face challenges such as ineffective leadership, inadequate cybersecurity knowledge, and mismanagement of AI, as revealed by a study from Mercer and Marsh. Wharton's business journal emphasizes the importance of combining human intelligence with data and analytics for effective decision-making. In the luxury property sector, managers are attracting luxury renters by offering unique amenities like pet spas, Botox treatments, and rehydration lounges.

Being AI-savvy could lead to higher compensation for professionals, especially in sectors like professional services, information and communication, and financial services. PwC's AI Jobs Barometer report shows that jobs requiring AI expertise are in high demand and carry an average wage premium of up to 25% in the U. S. This trend is evident in roles like sales and marketing managers and financial analysts who can earn wages that are 43% and 33% higher, respectively, when AI skills are involved. However, the financial services industry, while increasingly requiring AI skills, remains cautious due to heavy regulations.

In response, organizations like Citi and Morgan Stanley are launching initiatives, such as the AI Readiness for Financial Services Industry Special Interest Group, to address the challenges of adopting AI technology. Overall, PwC's research indicates that job growth in AI-demanding roles has outpaced all jobs since 2016, suggesting that AI brings gradual job growth rather than job losses. With the wages for AI-related jobs rising, workers are increasingly motivated to upskill.


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