New Paysa Study Reveals U.S. Companies Across All Industries Investing $1.35 Billion Dollars in AI Talent

Paysa, whose goal is to enable both companies and employees to make data driven talent decisions, today announced results from a new study, indicating that U.S. companies across all industries are investing $1.35 billion dollars in AI talent. The study looked at AI talent hiring trends from April 2017 through September 2017.

Source: Paysa Press Release

The results of this latest study underscore major investment and hiring trends in AI technology — demonstrating that momentum is continuing to build as businesses across every sector incorporate AI technology into products, solutions and services.

According to a 2016 IDC research report, by 2019, 40% of all digital transformation initiatives – and 100% of all effective IoT efforts – will be supported by cognitive/AI capabilities. By 2018, 75% of developer teams will include cognitive/AI functionality in one or more applications.

According to the Paysa study, here are the top 10 industries where AI investing is taking the lead, followed by the top three companies in each sector that are investing in hiring AI talent.

Big Tech: $619,544,633

1. Amazon: $305,832,434
2. Microsoft: $124,062,524
3. Apple: $105,371,161

Financial Services: $82,070,361

1. JPMorgan Chase: $15,405,130
2. Capital One: $14,606,635
3. Wells Fargo: $9,964,770

IT infrastructure: $65,276,912

1. Oracle: $17,199,495
2. IBM: $12,194,996
3. Cisco Systems: $11,262,807

Hardware: $51,012,199

1. NVIDIA: $22,295,391
2. Intel Corporation: $15,058,261
3. Lenovo: $4,362,240

Consulting: $49,618,307

1. Booz Allen Hamilton: $21,863,372
2. Applied Minds: $5,293,371
3. Deloitte: $4,655,689

Data Science and Business Analytics: $43,360,872

1. IntelliPro Group Inc.: $4,892,582
2. Rang Technologies: $4,704,423
3. All-In Analytics: $4,179,233

ERP and Enterprise Software: $36,878,628

1. Adobe: $10,975,045
2. Salesforce: $7,200,158
3. Siemens USA: $2,643,959

Automotive: $34,020,238

1. Uber: $6,609,670
2. Ford Motor Company: $4,113,455
3. Here: $3,926,613

Financial Technology (FinTech): $32,547,517

1. Intuit: $28,344,107
2. Square: $2,549,554
3. Stripe: $1,653,856

The companies that are investing the most in AI talent across all industries are:

The top 20 Highest Paying Companies, by Average Salary for an AI Engineer are as follows:

1. Uber : $314,746
2. WalmartLabs : $265,698
3. Netflix : $264,799
4. Facebook : $257,846
5. Salesforce : $248,281
6. Google : $236,388
7. Coupang : $234,348
8. Twitter : $230,639
9. Splunk : $227,202
10. Apple : $227,094
11. Intuit : $221,438
12. Palo Alto Networks : $219,679
13. PayPal : $218,262
14. OpenTable : $215,399
15. VMware : $211,862
16. Amazon : $209,762
17. Unity Technologies : $208,729
18. Adobe : $207,076
19. eBay : $203,626
20. Veritas Technologies : $202,776

Finally, the top metropolitan areas for AI jobs and the average salary that employees can expect to receive if they have a job in AI at each location are:

1. San Francisco, $182,418
2. Seattle, $191,213
3. New York, $122,075
4. Boston, $151,806
5. Chicago, $102,768
6. San Diego, $122,623
7. Austin, TX, $124,023
8. Atlanta, GA, $111,323
9. Washington, DC, $106,288
10. Charlotte, NC, $111,879

“AI investment is exploding now, more than ever, at a rapid pace across every industry,” said Chris Bolte, co-founder and CEO of Paysa. “Between the need to leverage massive amounts of data and deliver the highly personalized experiences that today’s connected consumer requires, new career and salary opportunities for AI talent are popping up every day and seem to be never ending. This is great news for today’s workers on many levels and squelches the fear that AI will eliminate the need for humans in the workplace.”

Check out the infographic here: TechRace-AI-TALENT