Published on February 21, 2024, 8:07 pm

Stay on top of the latest trends and insights in the tech industry with CIO Dive’s free newsletter delivered straight to your inbox. Tech professionals skilled in emerging technologies like AI are reaping the rewards with average salaries exceeding $174,000. The job market is showing signs of stabilization in 2023 as businesses revive postponed projects and ramp up AI initiatives.

Roles such as data scientists, machine learning engineers, and software engineers are in high demand due to the scarcity of specialized talent. With half of the top-paying tech skills being AI-specific, individuals with expertise in artificial intelligence have a competitive edge and potential for higher earnings.

Despite a surge in tech job postings, topping 400,000 in January according to CompTIA data, there is a significant shortage of AI-related skills. Brian Jackson from Info-Tech Research Group highlights the lack of data scientists proficient in modeling and managing data as a major talent gap.

To bridge this skill shortage gap, companies need to invest in upskilling and training programs. Surprisingly, only a fraction of developers report receiving support from their employers for developing AI capabilities according to a HackerRank survey.

While layoffs in big tech firms have mitigated the effects of the Great Resignation, IT professionals are exploring new opportunities in the job market. The unemployment rate remains low as displaced workers find new roles within the industry. However, there has been a decline in available tech occupations despite the ongoing demand for skilled professionals.

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