Academic Literature

AI skills – The demand rose dramatically over 2010–2019 in the U.S. economy

Using detailed data on skill requirements in online vacancies, we estimate the demand for AI specialists across occupations, sectors, and firms. We document a dramatic increase in the demand for AI skills over 2010–2019 in the U.S. economy across most industries and occupations. The demand is highest in IT occupations, followed by architecture and engineering, scientific, and management occupations. Firms with larger market capitalization, higher cash holdings, and higher investments in R&D have a higher demand for AI skills. We also document a wage premium of 11% for job postings that require AI skills within the same firm and 5% within the same job title. Managerial occupations have the highest wage premium for AI skills. Firms demanding AI skills more intensively also offer higher salaries in non-AI jobs.

Highlights

• Data on skills required in vacancies are used to estimate the demand for AI labour.

• Demand for AI labour rose dramatically over 2010–2019 in the U.S. economy.

• Larger firms with higher cash holdings and R&D demand more of AI labour.

• AI skills carry a wage premium of 11% within firm and of 5% within job title.

• Firms demanding AI labour more also offer higher salaries in non-AI jobs.

Chosen excerpts by Job Market Monitor. Read the whole story @  The demand for AI skills in the labor market – ScienceDirect

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