AI skills crisis may lead to wasted investments and stifled innovation, research shows

Urgent action is needed to tackle an artificial intelligence (AI) skills crisis that is already stifling US productivity and innovation, new research has found. Published by analytics leader SAS, How to Solve the Data Science Skills Shortage is a report based on a survey of decision makers from major US firms spanning nine sectors, including banking, insurance, government and retail. Fortune Business Insights projects the global artificial intelligence market to grow from $387 billion in 2022 to nearly $1.4 trillion by 2029.[1] Correspondingly, AI and machine learning are top investment priorities over the next one to two years, according to 43% of SAS survey respondents. That is well ahead of data technology stalwarts such as data visualization (25%), data analytics (22%) and big data (17%).