Few industries are blowing up like artificial intelligence and big data. A combination of new technology and expanding adoption are sparking meteoric growth. The analyst firm PitchBook estimates spending on AI software and hardware will reach $138 billion this year, and grow at a rate of 23% in the next three years. That puts the industry at $258 billion in 2024.
All that spending fuels an equally explosive jobs market. The job search site ZipRecruiter shows 48,955 artificial intelligence engineer jobs currently listed in the US. Those jobs pay very, very well. ZipRecruiter shows annual salaries as high as $304,500 for AI engineers, with an average of $164,769. There are also AI job openings for researchers, human resources workers, and managers.
PitchBook notes that “the size of this market can support both large private companies as well as meaningful growth opportunities for large enterprises.” Insider previously listed salaries for some of those larger enterprises, including IBM, Microsoft, and Oracle. Now we turn to those large startups and younger public companies, which are providing a new employment sector with a central focus on AI.
Companies are required to disclose information such as salary ranges when they hire through the H-1B visa program.