AI skills to drive salary hikes in India: Report

India's workforce with expertise in Artificial Intelligence (AI) could witness salary increases exceeding 54%, according to a report by Amazon Web Services (AWS). The report, titled "Accelerating AI Skills: Preparing the Asia-Pacific Workforce for Jobs of the Future," indicates that workers in IT and research and development sectors are likely to enjoy the highest pay hikes. 

The study finds that 97% of Indian workers anticipate a positive impact on their careers due to AI skills, expecting increased job efficiency and career advancement. Moreover, 95% express a keen interest in developing AI skills, spanning across generations, with even baby boomers showing readiness to enroll in AI upskilling courses. 

Employers foresee significant productivity gains from an AI-skilled workforce. They expect a 68% increase in organisational productivity, attributing it to AI technology automating tasks, fostering new skill acquisition, and enhancing workflow and outcomes. Workers themselves anticipate a 66% efficiency boost, as per the report. 

“The AI wave is sweeping across the Asia-Pacific region, including India, transforming the way businesses operate and the way we work. Our research shows that society as a whole will benefit from an increased productivity boost, which will translate into higher salaries for skilled workers in India,” said Abhineet Kaul, Director at Access Partnership.   

Generative AI tools are poised to reshape workplaces, with 98% of surveyed employers and workers anticipating their use within the next five years. Employers highlight increasing innovation and creativity as the top benefit, followed by improving outcomes and automating repetitive tasks. 

Despite the optimism, there's a looming AI skills gap that needs addressing. Employers prioritise hiring AI-skilled talent, yet nearly 80% struggle to find suitable candidates. Moreover, there's a lack of awareness about running AI workforce training programs among employers, while workers are uncertain about relevant career paths for AI skills. 

Another report, from Goldman Sachs, underscores the transformative potential of AI on the global economy. As per the report, breakthroughs in generative AI could drive a 7% increase in global GDP over a decade, with significant productivity gains across various sectors.