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Inside the AI talent-hiring frenzy

Business Insider · 7m

Demand for AI talent is intensifying as companies compete to create the best products in the field, with larger and wealthier firms currently dominating the race. Smaller companies struggle to attract workers with both technical and non-technical AI skills, believing they are being squeezed out of the sector by industry giants like Meta and Microsoft. The cost of hiring AI talent is high, with major firms offering substantial compensation packages, making it a challenge for smaller businesses. Additionally, there is a shortage of candidates with the required skills, such as proficiency in programming languages and deep learning software libraries. However, startups are becoming more generous with offers, including equity, to compete with larger companies. As the industry evolves, companies are investing in chief AI officers, training programs, and internal discussions to catch up with the technology and bridge the talent gap.