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It’s crazy to see how fast generative AI is growing!
With the rise of AI, many people have this notion that using platforms like ChatGPT or Gemini is making our society unproductive or lazier. While I agree with this notion to an extent (and that would be a great newsletter topic by itself), I also believe that generative AI is quite beneficial for our evolution as a world. I personally use generative AI all the time, and while that may sound bad coming from a student, I always use it in a way that helps enhance my efficiency rather than simply doing all my work for me. For example, I can ask it to provide me sources for a topic I’m investigating or break down an article that I found online. I also use it to help explain certain concepts that I struggle to grasp in school or correct my mistakes which I learn from.
With that being said, AI is a productive tool, and it appears that many companies are recognizing its benefits as well. According to Fortune, a 2024 Work Trend Index Annual Report by Microsoft and LinkedIn, 66% of business leaders claim they won’t hire someone without AI skills. That’s insane to think about, as that study was also almost 2 years ago, even when AI wasn’t as big as it is now. Fortune also found that the interview process is also changing. Organizations are asking candidates about their AI experience and seeing how potential employees interact with AI tools during a hiring assessment.
Many businesses see AI as a beneficial tool because it helps place them ahead of competitors in the context of many different functions. Florida International University claims that AI can do a much better job at analyzing huge datasets as opposed to people. This helps companies better understand customer expectations, ongoing trends, and making strategic decisions based off data in a more efficient manner. Similarly, University of Cincinnati claims that AI can be used to predict future trends more accurately such as inventory demand or customer behavior. Beyond trends and data, University of Cincinnati mentions that AI systems can also be used by businesses to generate new ideas or design better products. There are so many more advantages that business have by leveraging AI, which is why people who know how to work with AI are what businesses are looking for.
According to the World Economic Forum, AI has already created 1.3 million new jobs. Some of these roles include AI engineers, data annotators, forward-deployed engineers, and other jobs tied to AI infrastructure and products. This shows that many new jobs requiring familiarity and experience with AI are emerging and becoming increasingly prominent in today’s job market. And yes, many new jobs are being created, but many jobs are also being replaced. So having skills to adapt to the new job market, i.e. AI experience, is even more so important as of now.
Another quick fact that I’d like to share, coming from CNBC, is that job postings mentioning at least one AI skill were advertising their salaries 28% higher on average than job postings listing no AI skills. For two AI skills, the salaries were on average 43% higher. This is a great amount, and again comes to show how much companies are really searching for individuals with AI experience. With that being said, as many others are beginning to use these tools to improve their efficiency and productivity, not familiarizing yourself with AI may place individuals at a disadvantage in this AI-driven era.
What are your thoughts on AI being an essential skill in today’s job market?
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