AI Safety Summit | AI skills increase salaries by 40% - UK businesses need direction on how to upskill staff

AI skills and knowledge can increase an employee’s salary by as much as 40%, reveals a new study from the Oxford Internet Institute (OII), suggesting how this powerful technology will likely impact workers of the future.

The research, which polled 25,000 workers and over 1000 skills, found that understanding AI-based topics such as machine learning and data science significantly increased the salaries of employees with this niche expertise.

Describing the study’s findings, the paper’s co-author Dr Fabian Stephany told Verdict that contrary to belief, it doesn’t look like AI is out to replace human jobs: “This (study) is one piece of evidence that suggests AI will not replace people on a massive scale, but it will actually be very profitable for people to work with AI. Right now, we don’t see any indication that AI will lead to half of the labour force being automated away.”

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Despite this, the speed at which AI is being used in the workplace might soon outpace the knowledge and skills understood by a workforce with current skills that might soon be made redundant.