Oracle, a powerful software company based in California, reportedly offered a candidate to work on artificial intelligence technology for $6 million in total pay, showing how wanted such type of talent is in Silicon Valley.
Much like some other industries (media, government, lobbying, for example), many specialists in technology move around multiple companies in relatively short periods of time, often due to promises of more influence and propositions of substantially increased pay.
The aforementioned example of a seven-figure package, composed of both salary and stock options, according to Business Insider, exemplifies the field’s desire — perhaps need — for proficiency in the nascent area of technology.
And while an average AI expert usually makes around $300,000 to $500,000 a year or more in equity incentives and salary, according to The New York Times — still a very handsome amount — some of the most distinguished can earn eight figures after four or five years.
As noted by The NYT, Anthony Levandowski, one of the famous leaders of AI technology for autonomous vehicles among other projects, is believed to have received more than $120 million in incentives at Google while working as the company’s self-driving car chief. Levandowski ultimately left to create his own startup, which was acquired by Uber for $250 million, and caused a heated, lengthy legal battle over proprietary trade secrets. Levandowski seemed to make off very well after the case was settled, and Uber agreed to give Google parent company Alphabet $245 million in stock options. (RELATED: Study: People Will Spend A Lot Of Extra Money For Their Car To Drive Itself)
While some studies allege that the rise of automation and robots will hurt wages and job availability overall, such offerings of substantially high pay for AI specialists shows how much and many tech experts are needed to develop and build the AI systems and other advanced technologies. The question remains, however, if people will try to adapt their skills to the higher paying jobs, or if the larger population will do so as time moves on. (RELATED: Tech Guru Breaks From The Pack, Says Automation Will Create MORE Jobs)
Oracle declined to comment after The Daily Caller News Foundation’s reached out.
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