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Why are companies paying so much for AI professionals?

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posted Sep 17, 2018 by M Tuba Farheen

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Recent reports from sources like the New York Times show that leading technology companies are offering new employees hundreds of thousands or even millions of dollars to come on board and work on progress with artificial intelligence. The reasons have to do with classical economics as well as unique current trends that determine what rational actors will pay this type of talent.

One of the most fundamental reasons that artificial intelligence professionals are getting paid so much is that the talent pool is simply very small. Experts estimate that there are only some several thousand people worldwide who are most suited to this type of work. Even if there were many more such individuals, companies are often competing and even poaching people away from one another, and in addition, lots of this talent tends to be accumulated in specific technology hubs such as Silicon Valley.

answer Sep 18, 2018 by Bindhu M