Why Data Scientists Love the Law of Supply and Demand

It should come as no surprise that demand for data scientists keeps going up. However, supply of data scientists has not kept pace, unfortunately (or fortunately, depending on your point of view). Thanks to the law of supply and demand, companies are being asked to pay annual salaries well into the six figures – and sometimes even seven or eight figures – to attract and retain top AI talent.

In February, Element released an analysis of LinkedIn profiles that concluded there are only about 22,000 Ph.D.-carrying data science researchers and engineers worldwide who have the technical skills to deploy deep learning methodologies in a commercial setting. What’s more, only about 3,000 of those data scientists are currently looking for a job – although it’s common for companies to poach top data talent from competitors.

Author: Alex Woodie

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