As AI continues to transform our lives— from helping us learn new skills and get free legal advice to finding local deals—it’s safe to say that businesses are also exploring uses for this technology. The impact of AI on the corporate world is undeniable, and the worry that “AI will take our jobs” is similar to the one that accompanied the rise of the internet in the early 2000s. Although the internet did “replace” certain jobs, it ultimately created new industries and opened up opportunities that didn’t exist before. The truth about AI and the future of work is just as complex.
The rise of AI in the corporate world
Recent data from the McKinsey Global Survey shows a significant rise in AI usage amongst organizations. The percentage of companies using AI has jumped from a steady 50% over the last five years to 72% in the last year. This is proof that its influence on business operations is growing rapidly. The 2024 AI Index Report from Stanford University also empathizes that AI is helping to improve productivity and the quality of work by allowing tasks to be completed more quickly.
As businesses discover new ways to use AI, it brings both big opportunities and challenges. While the technology promises to reshape industries and boost productivity, it also raises important questions about its role in the job market. Let’s take a look at how AI might affect the future of work and why it’s important to adapt to these changes.
AI automation: Am I going to lose my job?
Fears about the changing job market are valid. The World Economic Forum’s 2020 Future of Jobs Report predicts that automation could displace up to 85 million jobs by 2025. But there’s a silver lining: the same report anticipates the creation of 97 million new roles by then.
Rather than fearing AI automation, it would be wise to view it as an opportunity. Investing in AI-focused education or training could set you on the right track for success. LinkedIn’s 2020 Emerging Jobs Report backs this up, showing a dramatic 74% annual increase in job postings for AI roles like machine learning engineers, data scientists, and AI researchers. These positions not only promise to be future-proof but also come with attractive salaries.
How much do AI specialists make?
If you choose to pursue an AI career, the pay can be very high. Here’s a list of the estimated annual salaries for AI specialists in the United States in 2024, according to Glassdoor:
- Data scientist: $129,000
- AI engineer: $128,000
- Machine learning engineer: $126,000
- Software engineer: $118,000
- AI researcher: $108,000
Top AI skills that will set you apart
As AI becomes more common in the workplace, so does the need for specialized skills in this field. According to Forbes and AI Magazine, these are some of the most in-demand AI skills in 2024:
- Data analysis: Applying statistical and logical techniques to describe, condense, and evaluate data.
- Prompt engineering: Writing and refining instructions, or prompts, for generative AI to make it more precise and efficient.
- Generative AI fine-tuning: Refining pre-existing AI tools to adapt them to specific subjects or tasks.
- Deep learning: A type of machine learning that imitates the human brain’s neural network, helping AI recognize speech and images and quickly process language.
- Computer vision: A field of computer science that helps computers identify and understand objects and people in images and videos.
These technical abilities are useful for anyone looking to build a successful AI-focused career, as well as anyone aiming to expand their current skillset or simply “get with the times.” However, technical knowledge by itself isn’t enough for long-term success.
One of the risks associated with AI is its ability to copy real-world biases and discrimination. According to AI Magazine, professionals must be aware of the ethical issues that come with AI technology. Companies, on the other hand, will need to make sure their AI systems build trust both within the organization and with customers. Additionally, new regulations like the EU AI Act and US government orders will require tech companies to prioritize AI safety and transparency.
It’s important for AI specialists to understand human behavior, ethics, and the role of personality and emotion in AI.
A need for empathy, continued learning and the humanities
At IE University, our Bachelor in Computer Science & Artificial Intelligence takes a human-centered approach to AI education. We believe that understanding the human aspect is key to unlocking the full potential of computers. Our program aims to empower graduates to become innovators by considering the broader impact of computer science.
We teach our students the importance of continued learning, encouraging them to expand their skills in areas like human behavior, social science, ethics, and the humanities. By creating lifelong learners, we ensure that their careers are future-proof and that they are ready for the ever-evolving world of technology. By incorporating the humanities into our curriculum, we help create well-rounded professionals with the critical-thinking skills needed to understand the complexities of the world.
Core classes like programming, cloud computing and data analysis provide students with strong, in-demand skills. Students also gain practical experience through our Robotics & AI Lab, industry seminars, and internships.
At IE University we have a strong alumni network and over 150 clubs where you can connect with others who share your interests. Our goal is to prepare the next generation of programmers and computer scientists to think critically, challenge conventional ideas, and approach new technology with a human-centered perspective.
Final thoughts: turning fear into opportunities
As AI changes the job market, seeing it as an opportunity rather than a threat can open new career paths. Investing in AI skills and staying adaptable is key. At IE University, our human-centered approach to AI education gives students both the technical expertise and ethical insight needed to reach their full potential. With the right preparation, you can confidently embrace the future. Let AI redefine your career and drive innovation in ways you never imagined!