Artificial Intelligence Reaping a fortune from Tech Giants

When it comes to recruiting workers, startups have had the upper hand as opposed to the industrial leading giants. Once an individual opts to work with the startups, they are assured that they will be given a stake in the company, and the success of the business will make them rich. To counter the competition from the upcoming firms, big ventures have resulted to placing bets on artificial intelligence. The companies are looking into advanced technology such as face scanning smartphone, autonomous vehicles, and computerized healthcare among others. Even as these companies look into the future, they are distributing salaries that leave many in awe, even when many people know they have not shied away from protecting their top talent with a fortune.

According to nine people who sought anonymity, the companies pay artificial intelligent specialists, Ph.D. holders and individuals with few years of experience about $300,000 to $ 500,000 a year. Many people in these companies have been compensated with both salaries and shares, which amount to millions within a period of four to five years, and are allowed to re-negotiate their contract. The companies have executive officers who have an experience in managing A.I projects. Anthony Levandowski had worked for Google since the year 2007. He had co-founded a company that was acquired by Uber and was hence given a compensation of more than $120 million by Google. These tech companies are spending much money on paying A.I since they believe they will help them with issues such as spotting offensive content and more.

The fact that there lack enough talent in the companies have also resulted in them spending money on A.I. According to an independent lab in Montreal known as Element AI, the entire world has not more than 10,000 A.I who can handle serious artificial intelligence research. The basics of artificial intelligence rely on mathematics techniques known as deep neural networks. It is this technique that is used to identify faces on Facebook. Since the number of artificial intelligence specialists is way down, the large tech companies have resulted to hiring some of the brightest academic people. As a result, the number of people who can teach the technology is dropping by the day. Startups have now resulted to hiring people with necessary mathematics skills such as physicists. Some startups in the United States are sourcing out workers from Asia, Eastern Europe and other areas where the salaries are a little less.

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Dil Bole Oberoi