As Companies Embrace AI, It's A Job-Seeker's Market – African News Network | Latest African News | Nigerian News | Breaking News
Connect with us

World News

As Companies Embrace AI, It’s A Job-Seeker’s Market

Published

on

As Companies Embrace AI, It's A Job-Seeker's Market

Dozens of employers looking to hire the next generation of tech employees descended on the University of California, Berkeley in September to meet students at an electrical engineering and computer science career fair.

Boris Yue, 20, was one of thousands of student attendees, threading his way among fellow job-seekers to meet recruiters.

But Yue wasn’t worried about so much potential competition.  While the job outlook for those with computer skills is generally good, Yue is in an even more rarified category: he is studying artificial intelligence, working on technology that teaches machines to learn and think in ways that mimic human cognition.

His choice of specialty makes it unlikely he will have difficulty finding work. “There is no shortage of machine learning opportunities,” he said.

He’s right.

Artificial intelligence is now being used in an ever-expanding array of products: cars that drive themselves; robots that identify and eradicate weeds; computers able to distinguish dangerous skin cancers from benign moles; and smart locks, thermostats, speakers and digital assistants that are bringing the technology into homes. At Georgia Tech, students interact with digital teaching assistants made possible by AI for an online course in machine learning.

The expanding applications for AI have also created a shortage of qualified workers in the field. Although schools across the country are adding classes, increasing enrollment and developing new programs to accommodate student demand,  there are too few potential employees with training or experience in AI.

That has big consequences.

Too few AI-trained job-seekers has slowed hiring and impeded growth at some companies, recruiters and would-be employers told Reuters. It may also be delaying broader adoption of a technology that some economists say could spur U.S. economic growth by boosting productivity, currently growing at only about half its pre-crisis pace.

READ:  68 Cases Of Gunshot Wounds Treated Amid Protests -Zimbabwe Doctors

Andrew Shinn, a chip design manager at Marvell Technology Group who was recruiting interns and new grads at UC Berkeley’s career fair, said his company has had trouble hiring for AI jobs.

“We have had difficulty filling jobs for a number of years,” he said. “It does slow things down.”

“COMING OF AGE”

Many economists believe AI has the potential to change the economy’s basic trajectory in the same way that, say, electricity or the steam engine did.

“I do think artificial intelligence is … coming of age,” said St. Louis Federal Reserve Bank President James Bullard in an interview. “This will diffuse through the whole economy and will change all of our lives.”

But the speed of the transformation will depend in part on the availability of technical talent.

A shortage of trained workers “will definitely slow the rate of diffusion of the new technology and any productivity gains that accompany it,” said Chad Syverson, a professor at the University of Chicago Booth School of Business.

U.S. government data does not track job openings or hires in artificial intelligence specifically, but online job postings tracked by jobsites including Indeed, Ziprecruiter and Glassdoor show job openings for AI-related positions are surging. AI job postings as a percentage of overall job postings at Indeed nearly doubled in the past two years, according to data provided by the company. Searches on Indeed for AI jobs, meanwhile increased just 15 percent.

READ:  Minister Of Science And Technology To Embark On Official Visit To US And Cuba

Universities are trying to keep up. Applicants to UC Berkeley’s doctoral program in electrical engineering and computer science numbered 300 a decade ago, but by last year had surged to 2,700, with more than half of applicants interested in AI, according to professor Pieter Abbeel. In response, the school tripled its entering class to 30 in the fall of 2017.

At the University of Illinois, professor Mark Hasegawa-Johnson last year tripled the enrollment cap on the school’s intro AI course to 300. The extra 200 seats were filled in 24 hours, he said.

Carnegie Mellon University this fall began offering the nation’s first undergraduate degree in artificial intelligence. “We feel strongly that the demand is there,” said Reid Simmons, who directs CMU’s new program. “And we are trying to supply the students to fill that demand.”

Still, a fix for the supply-demand mismatch is probably five years out, says Anthony Chamberlain, chief economist at Glassdoor. The company has algorithms that trawl job postings on company websites, and their data show AI-related job postings having doubled in the last 11 months. “The supply of people moving into this field is way below demand,” he said.

A JOB-SEEKER’S MARKET

The demand has driven up wages. Glassdoor estimates that average salaries for AI-related jobs advertised on company career sites rose 11 percent between October 2017 and September 2018 to $123,069 annually.

Michael Solomon, whose New York-based 10X Management rents out technologists to companies for specific projects, says his top AI engineers now command as much as $1000 an hour, more than triple the pay just five years ago, making them one of the company’s two highest paid categories, along with blockchain experts.

READ:  Fire Kills 7 At South Korea's Low Cost Housing

Liz Holm, a materials science and engineering professor at Carnegie Melon, saw the increased demand first-hand in May, when one of her graduating PhD students, who used machine learning methods for her research, was overwhelmed with job offers, none of which were in materials science and all of them AI-related. Eventually the student took a job with Proctor & Gamble, where she uses AI to figure out where to put items on store shelves around the globe. “Companies are really hungry for these folks right now,” Holm said.

Mark Maybury, an artificial intelligence expert who was hired last year as Stanley Black and Decker’s first chief technology officer, agreed. The firm is embedding AI into the design and production of tools, he said, though he said details are not yet public.

”Have we been able to find the talent we need? Yes,” he said. “Is it expensive? Yes.”

The crunch is great news for job-seeking students with AI skills. In addition to bumping their pay and giving them more choice, they often get job offers well before they graduate.

Derek Brown, who studied artificial intelligence and cognitive science as an undergraduate at Carnegie Mellon, got a full-time post-graduation job offer from Salesforce at the start of his senior year last fall. He turned it down in favor of Facebook, where he started this past July.

World News

Brexit Will Not Happen Next Week

Published

on

By

Brexit Will Not Happen Next Week

Brexit will not happen next week.  The United Kingdom has been granted a bit more time to figure out the terms of its departure from the European trading bloc.  The date could be April the twelfth or may the twenty-second.

European Council President, Donald Tusk, says he would push the departure date to May the twenty-second if the UK parliament approves a withdrawal agreement next week.

READ:  Iranian Assets Seized By France In Response To Foiled Bomb Plot

Parliament’s failure to approve the Brexit deal next week would mean deadline for departure from the European Union will be April the twelfth.

The decision to grant the delay came a day after may delivered a televised speech blaming parliament for the Brexit impasse. That speech angered the political spectrum.

READ:  Volkswagen Not Prepared To Cover Full Costs Of Diesel Retrofits - Source

May hopes with this European Council next decision, the House of Commons would pass a Brexit deal next week.  She says that would help bring an end to the uncertainty and would help the UK to leave Europe in a smooth and orderly manner.

READ:  68 Cases Of Gunshot Wounds Treated Amid Protests -Zimbabwe Doctors

Continue Reading

World News

Chemical Factory Explosion In China Kills 47, Injures Over 600

Published

on

By

Chemical Factory Explosion In China Kills 47, Injures Over 600

An explosion at a chemical plant that occurred on Thursday in China’s eastern Jiangsu province has killed 47 people and injured over 600, among which 90 are critically injured, state media reported.

The fire which happened at a plant that contained highly inflammable chemical owned by the Tianjiayi Chemical Company spread to neighbouring factories was finally brought under control at 3.00 a.m. on Friday.

President Xi Jinping, who is in Italy on a state visit, ordered all-out efforts to care for the injured and to “earnestly maintain social stability”, state television said.

Authorities must step up action to prevent such incidents and determine the cause of the blast as quickly as possible, Xi added.

Reuters disclosed that some police at the scene were wearing face masks, sealed off roads to the plant. The blast smashed windows in the village of Wangshang two kilometres (1.2 miles) away, and shocked villagers likened it to an earthquake.

READ:  US Officials Sound Alarm On Russian "Threat"
Continue Reading

World News

New Zealand Bans Sale Of Assault Rifles, Semi-Automatic Weapons

Published

on

By

New Zealand Bans Sale Of Assault Rifles, Semi-Automatic Weapons

New Zealand has banned the sale of assault rifles and semi-automatic weapons after the country’s worst-ever attack in which fifty persons were killed in two mosques.

Prime Minister Jacinda Ardern told a news conference the ban is in the national interest and it’s about safety… To prevent an act of terror from ever happening again in New Zealand.

READ:  Switzerland Celebrates Kofi Annan

Ardern said she expects the new law to be in place by mid-April.  Buy-back schemes will be established for banned weapons.

Ardern said the suspect arrested in the attacks had purchased his weapons legally and enhanced their capacity by using 30-round magazines “done easily through a simple online purchase.”

READ:  Clashes After Israel Closes Palestinian School

The changes in New Zealand’s gun laws are expected to curtail future acts of random violence like the mass mosques shootings in Christchurch.

Continue Reading

Trending

Subscribe to ANN News Alert

Be the first to receive the latest news from Africa and around the world.

%d bloggers like this: