This skill is now worth millions

The race for artificial intelligence dominance has meant that specialists in the field are being paid huge salaries by tech companies for their knowledge and expertise, reports The New York Times. At the heart of the issue is a major labor shortage of those with the ability to do deep research on artificial intelligence. It is estimated that only about 10,000 people worldwide have the necessary skills to do so, according to Element AI, a research institute in Montreal. Firms like Facebook and Google are competing not only with smaller rivals but also with auto companies for workers with this skillset, pushing up the cost of labor and drawing away experts from academia. Indeed, the Times reports that even those with just a few years experience are being paid between $300,000 and $500,000, including equity for positions in the field. Those with deeper knowledge are sometimes paid in the millions. Once a fringe subject, AI has become popular in recent years with tech-focused firms, which are betting that the technology could power everything from self-driving cars to computers that diagnose illness without the need for a doctor.

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