Postings for jobs requiring AI skills grew 3.5 times faster globally than postings for all jobs since 2016, according to the 2024 Global AI Jobs Barometer report by PwC. And there are now seven job postings requiring AI specialist skills today for every one posting in 2012.

The report, which analyzed more than half a billion job ads from 15 countries, also found jobs requiring AI skills carry up to a 25% wage premium in the US. The wage premium is also higher in other markets tracked.

Businesses and governments around the world must invest in skills to ensure their people and organizations thrive, Pete Brown, global workforce leader at PwC UK, said in a press release.

“Equally, there is tremendous opportunity for people, organizations and economies with expertise in new and emerging technologies such as AI,” Brown said. “Ensuring a skills-first approach to recruitment as well as continued investment in workforce upskilling is imperative, as no industry or market will remain immune to the impact of AI’s technological and economic transformation.”

Skills are changing faster in occupations more exposed to AI, according to the report. It found that old skills disappearing and new skills appearing in job ads occur at a 25% higher rate in occupations exposed to AI than in those less exposed.

The report also found sectors more exposed to AI are experiencing nearly fivefold greater labor productivity growth.

Countries included in the analysis were the US, UK, Singapore, Australia, Canada and New Zealand.