Fierce competition for genAI talent is driving the need for new thinking about employee-training programs for AI skills. If you can’t hire them, train them.
In the fast-paced world of AI, companies are vying for the top talent in generative AI (genAI). The demand for individuals experienced in training large language models (LLMs) and solving complex genAI problems is skyrocketing. The Wall Street Journal reports that companies are willing to offer over $1 million in salary, bonuses, and stock options to attract these highly sought-after professionals. However, the supply of qualified candidates is limited, with only a few hundred individuals worldwide possessing the necessary skills.
The competition for genAI talent extends beyond just hiring individuals. Companies are even attempting to poach entire genAI teams from their competitors, further intensifying the race for talent. Start-ups, large corporations, and even entire countries are in pursuit of the best AI minds. The battle for talent is not only about employees but also about securing the necessary resources. Meta, for example, is seeking to corner the market on Nvidia H100 AI GPUs, placing an order for 350,000 units for 2024.
However, companies cannot solely rely on hiring to bridge the genAI skills gap. The average half-life of skills is less than five years, and traditional educational methodologies often fall short of meeting the industry’s current requirements. Therefore, companies must invest in upskilling and training their existing workforce. By rethinking and redesigning employee-training programs, companies can equip their employees with the AI skills needed to thrive in a genAI-driven world.
Neil C. Hughes, writing in Techopedia, highlights the importance of closing the AI skills gap. He notes that companies need to provide in-depth training to software engineering students and professionals looking to upskill with genAI. The successful companies of the future will prioritize upskilling and reskilling their employees to meet the changing demands of AI technology.
To quote Naveen Rao, head of generative AI at Databricks, “There is a secular shift in what talents we’re going after. We have a glut of people on one side and a shortage on the other.” This shift necessitates a strategic focus on training and developing employees internally. By investing in genAI and machine learning/deep learning, companies can build robust internal training programs that will not only benefit their employees but also drive their success in the AI-driven landscape.
The key takeaway from this is clear: companies cannot solely rely on hiring to bridge the genAI skills gap. Investing in employee training and upskilling is crucial for long-term success. By empowering their workforce with the necessary AI skills, companies can stay ahead of the curve and harness the full potential of genAI. Failure to invest in training programs may result in falling behind competitors and missing out on the transformative power of AI.
In the race for genAI talent, companies must remember that if they can’t hire them, they should train them. The future of AI belongs to those who prioritize investing in their employees and building a skilled and adaptable workforce.
Citations:
The AI talent shortage — can companies close the skills gap? – Computerworld https://www.computerworld.com/article/2086920/the-ai-talent-shortage-can-companies-close-the-skills-gap.html
Inside the AI Hiring Frenzy https://www.businessinsider.com/inside-the-ai-hiring-frenzy-big-tech-talent-war-2024-3
Talent strategy: GenAI will need properly trained humans https://cio.economictimes.indiatimes.com/news/artificial-intelligence/talent-strategy-genai-will-need-properly-trained-humans/107752489
The AI Boom is Sending Silicon Valley’s Talent Wars To New Extremes – Slashdot https://slashdot.org/story/24/03/27/142236/the-ai-boom-is-sending-silicon-valleys-talent-wars-to-new-extremes
The AI Boom is Sending Silicon Valley’s Talent Wars To New Extremes – Slashdot https://slashdot.org/story/24/03/27/142236/the-ai-boom-is-sending-silicon-valleys-talent-wars-to-new-extremes#comments
How to create an AI team and train your other workers https://www.reseller.co.nz/article/709893/how-create-an-ai-team-train-your-other-workers/