The demand for AI developers is soaring as the artificial intelligence (AI) domain gains traction across industries. American companies are willing to pay between $91,000 and $145,000 per year (or even more) for AI developers and related positions due to the high level of expertise required in highly developed technologies like deep learning, data mining, and natural language processing.
This article will answer the question, “How much do AI developers earn” and provide information on the AI field as a whole.
AI Software Engineering
Artificial intelligence is an interdisciplinary term that refers to systems that mimic human intelligence in areas such as learning and problem-solving. It is one of the most popular domains for software development.
Factors influencing the salaries and rates of AI developers
Companies determine the cost of AI developer services based on expertise, location, and project difficulty. All of these factors have a substantial bearing on the final rate.
One of the primary factors influencing AI development salary rates is expertise. The more intricate these abilities are, the greater the average salary. Moreover, experience is essential. It allows specialists to earn more income.
Here are several lucrative AI skills:
- Python, Java, R, and C++ are programming languages.
- Hadoop, Storm, Hive, and Spark are big data processing tools.
- The algorithms and machine learning frameworks TensorFlow, MXNet, Keras, and Theano
Location is another essential factor in the calculation of AI salaries. Employers in important business centers tend to pay higher compensation, but this is not always true. Employers may offer higher or lower salaries than the national average, depending on the state’s economic climate. Additionally, Canadian and Mexican AI developers can earn more than their American counterparts.
Due to the complexity of artificial intelligence, organizations are willing to invest more in research and development. AI initiatives emphasizing machine learning and natural language processing are typically complex and resource-intensive. Consequently, AI developers specializing in these technologies are typically compensated well.
How to Employ Skilled AI Developers
If you are seeking artificial intelligence expertise, several excellent online resources are available to employ talented AI developers. Employ capable programmers from Latin America, Canada, and Europe.
Freelance marketplaces include Toptal, Upwork, and Turing.com.
These recruitment platforms are ideal for short-term, straightforward endeavors. Freelance marketplaces publish numerous job openings and are one-stop stores for employing independent AI developers and other software specialists. The disadvantage is that you must review numerous CVs before selecting the most qualified specialist for the project.
Job search engines
The best places to discover AI specialists with five-star ratings and numerous positive evaluations are job search engines. In addition, these websites analyze social networks and other sources to assist businesses in locating the most qualified developers.
When using job networks, you have no influence over the recruiting process, and acquiring a talented AI specialist can take weeks or even months.
LinkedIn and additional professional networking sites (Meetup, Xing)
LinkedIn is one of the most useful resources for recruiting professionals in artificial intelligence. Each member of LinkedIn has a prominent profile and is well-known in their field. LinkedIn group pages are also excellent locations to discover talent, as their active communities assist businesses in locating the ideal specialist in a given field.
The disadvantage is that recruiters and prospective employers may not effectively highlight their professional expertise and interests. Consequently, it may take some time for the two parties to establish trust and connections on LinkedIn.
AI Developer Hourly Rates
The AI developers hourly rates totally depends on the location and region as well as experience of the developers. AI developer hourly rates in US ranges between $75 to $150 which is quite costly. Whereas AI developer hourly rates in India ranges between $50 to $75 which is affordable in the market.
Importantly, hire AI developers from us in order to meet your project needs according to your expectations.
Will AI developer salaries increase or decrease in the coming years?
Given the high demand for AI-based solutions in numerous industries, including customer service, healthcare, marketing, and finance, AI software development has become an attractive career path. Experts anticipate that the demand for AI engineering specialists will increase annually shortly.
On the supply side, the number of STEM graduates flooding the software engineering job market will increase by 8% annually. This trend will increase the number of AI engineers.
On the demand side, many businesses will continue to implement AI technologies. Consequently, developer compensation will increase over the next three to five years.
Tech Industry Job Losses in 2022
In June 2022, many tech companies, including Meta, Twitter, and Amazon, began striking off many tech employees, including AI developers and engineers. This unanticipated occurrence depresses most of the technology industry, resulting in a perceptible increase in unemployment and a dip in consumer confidence.
The unemployment rate is still higher than before the layoff, but it is no longer increasing. The labor market expansion is still less than that of 2018. The Tech industry is declining at a greater rate than before the layoffs. And AI engineers’ salaries will presumably decrease to some extent.
In conclusion, you should know the elevated demand for AI development specialists. Additionally, their salaries increase annually. Given the current trends in the labor market, AI professionals will be among the highest-paid in the IT industry in the coming years.
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