AI boom drives demand for tech talent

AI Photo: VCG

The war for artificial intelligence (AI) talent is getting fiercer as the demand for people who can fill crucial roles skyrockets. The AI boom in China is creating new opportunities for skilled workers, and driving economic growth, experts said.

The number of new jobs calling for AI skills on domestic recruitment site Liepin increased by 321.7 percent year-on year in the first quarter of 2024, thepaper.cn reported on Tuesday. The number of applicants for AI-related jobs rose by 946.84 percent.

The rapid rise of AI technology has created a high demand for professionals with expertise in areas such as data science, AI engineering, machine learning and robotics. 

According to Liepin, the demand for algorithm developers for large models is so intense that for every AI expert, there are six positions available. 

Starting salaries for AI-related employees at the master's degree level range from 400,000 yuan ($55,952) to 550,000 yuan ($76,934) per year, the Global Times learned. The base pay for a PhD holder can be as high as 1 million yuan per year.

Jin Ling, who got an AI and data mining master's degree at Hong Kong University of Science and Technology, told the Global Times that she received offers from multiple companies including Huawei, ByteDance and a Shenzhen-based unicorn start-up, and she has chosen the one that offers the best compensation package.

Starting from 2024, Shanghai-based AI start-up MiniMax increased on-campus recruiting as the company continued to expand, the company told the Global Times on Wednesday. The positions involve algorithm development, product development, marketing, operations and front- and back-end engineers.

However, the supply of AI experts hasn't kept pace with the surge in demand. Analysts said that this can be attributed to the complexity of AI technologies, requiring in-depth theoretical knowledge and practical on-the-job experience. These roles require specialized knowledge in emerging fields like deep learning, natural language processing and robotics.

According to a report from iiMedia Research published in February, 91.3 percent of surveyed companies lack AI experts. More than 70 percent of these companies plan to ramp up hiring of AI professionals in the coming two years.

A 2023 report from McKinsey estimates China's need for AI workers will grow sixfold by 2030 to 6 million.

"To become an AI expert, proficiency in programming languages like Python or Java is essential. Knowledge of machine learning, neural networks, data analysis and problem-solving abilities is also crucial for success in the field," Guo Yike, the provost of HKUST, told the Global Times in a recent interview.

According to a study conducted by Chicago-based think tank MacroPolis, China has expanded its AI talent pool in recent years. China produces a sizable portion of the world's top AI researchers, rising from 29 percent in 2019 to 47 percent in 2022.

Industry-academia collaboration can bridge the skills gap by providing students with hands-on training and real-world projects, Liu Gang, chief economist at the Chinese Institute of New Generation AI Development Strategies, told the Global Times on Wednesday.

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