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The high demand for skilled employees with knowledge of how to use artificial intelligence (AI) tools is also leading to higher salaries for Chief Information Officers (CIOs) this year.Â
The Wall Street Journal reports that persistent AI adoption across the workforce has made CIOs more pivotal than ever in driving organizational strategies and ensuring that businesses remain competitive in a technology-driven market. Â
Companies are investing heavily in AI. Not only to increase productivity, but to innovate and stay ahead of the talent curve. This has resulted in a competitive job market where companies are willing to offer lucrative compensation packages to attract and retain top CIO talent who can lead these transformative initiatives.Â
Salary data published by Jaco Associates reveals that CIO compensation increased by an average of 7.48% in large enterprises and 9% in midsize enterprises over the past year.Â
CIOs are now seen as key drivers of AI-driven organizations, where their role has expanded from managing information systems to leading critical AI projects that streamline significant business outcomes. Professional expertise that can help in integrating AI into business processes is a highly sought after skill because it helps organizations achieve the full potential of AI technologies effectively and ethically.Â
Organizations need the leadership as adoption of the new tech is soaring. Microsoft’s annual Work Trend Index reveals 75% of knowledge workers say they now employ AI technologies at work, and 66% of business leaders say they wouldn’t hire someone without AI skills. Â
