Employers are significantly more likely to offer job interviews and higher salaries to graduates with experience of artificial intelligence (AI), according to new research published in the journal Oxford Economic Papers.
“Job applicants with AI capital might possess the knowledge, skills and capabilities related to data analysis, data-driven decision-making, creativity, innovation, and effective communication, among other factors,” said said lead author Nick Drydakis, professor of Economics at ARU. “These skills can enhance business operations, making them more efficient and potentially contributing to increased productivity within a firm.”
Researchers from Anglia Ruskin University (ARU) conducted an experiment by submitting CVs for job vacancies from British 21-year-old applicants who held a 2:1 degree.
Some of the applicants had studied an AI in business module and this was mentioned in their cover letter for the application.
A matched pair of male applicants, one with AI capital and the other without, submitted applications, resulting in a total of 1,360 applications from male applicants to 680 UK companies.
A total of 1,316 similarly matched applications from female applicants were sent to 658 firms.
Male applicants with AI knowledge received an interview invitation in 54 percent of cases, while male applicants without AI knowledge were invited to interview in 28 percent of cases.
Female applicants with AI knowledge received an interview invitation in 50 percent of cases, whereas female applicants without any AI education received interview requests in 32 percent of cases.
In large firms, applicants with AI knowledge were 36 percentage points more likely to be invited to an interview than in small-medium sized firms.
“Larger firms particularly valued AI capital, possibly because they tend to undergo more AI-based structural technological transformations and have greater capacity for innovation,” Drydakis said.
Male applicants with AI qualifications were shortlisted for jobs offering wages that were, on average, 12 percent higher than those for male applicants without AI capital, while female applicants with AI qualifications were offered interviews for jobs offering wages that were, on average, 13 percent higher than without AI capital.
“In the UK, AI is causing dramatic shifts in the workforce, and firms need to respond to these demands by upgrading their workforces through enhancing their AI skill levels,” said Drydakis. “Our study clearly indicates that employers value AI knowledge and skills among job applicants. Those applicants with AI capital were significantly more likely to be invited to interview and were also more likely to have access to better paid jobs.”
Anglia Ruskin University. (2024, May 10). AI knowledge gets your foot in the door. ScienceDaily.