AI skills could boost New Zealand salaries by 30%, says AWS

Newly released research findings by Amazon Web Services (AWS) indicate the potential for growth in New Zealand's workforce through the cultivation of artificial intelligence (AI) skills. According to AWS, AI proficiency could boost salaries in the region by more than 30% and significantly accelerate career growth.

The study, titled "Accelerating AI Skills: Preparing the Workforce in New Zealand for Jobs of the Future," was commissioned by AWS and conducted by Access Partnership. It surveyed over 1,600 workers and more than 500 employers in New Zealand. The findings revealed that employers are willing to pay AI-enabled workers 30% more, with IT professionals and those in research and development sectors enjoying the highest pay increases (41% and 38% respectively).

Among the surveyed workers, 90% predicted a positive impact on their careers due to their AI skills. Positive impacts identified included greater job satisfaction, increased work efficiency, and higher salaries. Interest in developing AI skills was expressed by 79% of New Zealand workers with an impressive 70% of the baby boomer generation signalling their willingness to enrol in an AI upskilling course if offered.

Productivity gains emerged as a highly anticipated outcome, with employers expecting a 49% increase in their organisation's productivity through the use of AI technology. This increase is attributed to automation of repetitive tasks, workflow improvement, and enhanced communication. Workers similarly anticipate a 46% rise in their efficiency through AI.

More than 90% of employers surveyed envisage their companies becoming AI-driven by 2028. Prospects of AI benefits are not limited to IT departments but are foreseen across various sectors including sales and marketing, finance, research and development, business operations, and human resources.

Abhineet Kaul, Director at Access Partnership, highlighted the transformative impact of AI on workplaces. "Our research shows that our community as a whole will benefit from an increased productivity boost, which will translate into higher salaries for skilled workers in New Zealand," he said.

Generative AI, a technology that swiftly generates new content, ideas and conversational elements, has gained the attention of the public. According to the research, 86% of workers and 92% of surveyed employers are expected to utilise generative AI tools within the next five years. Benefits identified include increasing creativity and innovation, automating repetitive tasks, and improving outcomes.

However, the study also reveals a notable AI skills shortage, as 70% of employers struggle to find the AI talent they need, even though 63% view hiring AI-skilled workers as a priority. This gap is further widened by a lack of awareness on how to implement and run AI workforce training programmes, with 79% of employers indicating they are unsure of how to proceed.

Addressing this skills gap is critical, requiring a collaborative effort between governments, industries, and educators. According to Graeme Muller, Chief Executive of tech industry body NZTech, "Huge productivity gains will be available, which will have a positive effect on our economy and GDP, but only if industry and Government work together to prepare Kiwis with AI skills."

Kiwibank is one of the organisations proactively seeking to harness AI capabilities. According to Tim Gardner, Kiwibank General Manager Tech Risk, Security, Data Governance and Architecture, "We recently held an AI hackathon focused on how AI can be used to create better outcomes for our teams and customers. We're proud to be the first organisation in Aotearoa to offer AWS CloudUp for Her for employees."

AWS in collaboration with the New Zealand government previously announced plans to provide cloud training to 100,000 people in New Zealand over five years. AWS also aims to support the education of 29 million individuals globally on cloud computing skills by 2025. These efforts are aimed at developing a proficient workforce capable of steering AI advancements, ensuring New Zealand is well-positioned to unlock the full productivity benefits of AI.