Jobs requiring AI specialist skills carry a significant wage premium, up to 25% on average in the US, according to PwC’s 2024 Global AI Jobs Barometer.

The report analysed over half a billion job ads from 15 countries and suggests that AI could boost productivity, economic development, higher wages, and living standards.

For every AI specialist job posting in 2012, there are now seven. Jobs demanding AI skills have grown 3.5 times faster than all jobs since 2016. These roles carry up to a 25% wage premium in some markets. Skills sought by employers are changing 25% faster in AI-exposed occupations, requiring workers to acquire new skills to stay relevant.

The report highlights AI’s positive impact on productivity and value, offering rising prosperity for workers and nations. AI adoption is likened to past technological revolutions, presenting vast new opportunities for those who adapt. Sundara Raj, Chief Digital Officer at PwC Malaysia, emphasises the need for businesses to embrace AI proactively, recognising its transformative potential and operationalising it at scale with responsible governance.

Knowledge work sectors, such as financial services, professional services, and information & communication, are seeing rapid growth in AI skill demand, with these sectors experiencing nearly five times higher labor productivity growth. As AI continues to transform the labor market, companies, workers, and policymakers must help workers build relevant skills.

According to PwC’s 27th Annual Global CEO Survey, 69% of CEOs expect AI to require new skills, rising to 87% among those who have already deployed AI.

Carol Stubbings, Global Markets and TLS Leader at PwC UK, notes that AI presents opportunities for economic development and job creation but requires investment in AI strategies and people to ensure readiness for the AI age.