A recent study by Indeed reveals that acquiring AI skills can boost salaries by up to 47%, stressing the value employers place on candidates who can leverage these technologies.

In the United States, 92% of organisations plan to implement AI-based solutions by 2028, according to a report by Amazon Web Services (AWS). Key areas benefiting from AI adoption include IT (92%), sales and marketing (85%), and human resources (78%). 

Companies are turning to AI to automate processes, enhance productivity, and drive innovation. This has led to a change in ways of hiring, with employers preferring candidates with AI expertise, even if they lack extensive work experience.

While the demand for AI talent has grown, there’s still a huge skills gap. Nearly 75% of employers report difficulty finding professionals with adequate AI training. As a result, companies are offering competitive salaries to attract talent. 

For instance, professionals specialising in generative AI earn an average of $174,727 annually. Roles requiring skills like prompt engineering and applied generative AI are particularly lucrative, with potential salary increases ranging from 35% in human resources to 47% in IT.

Platforms such as Coursera and Nvidia’s Deep Learning Institute are making AI education more accessible. Coursera has identified “prompt engineering” and “applied generative AI” as the fastest-growing skills for 2025, offering affordable and free courses to help professionals upskill. 

Nvidia provides a range of free resources, including beginner-friendly courses like “Generative AI Explained” and “Building a Brain in 10 Minutes”, designed to build learners with practical AI knowledge.

The economic benefits of AI expertise span across various sectors. A worker earning $80,000 could see their salary rise to over $117,000 by adding skills in generative AI. Again, businesses are willing to invest heavily in employees with AI proficiency to gain a competitive edge.

Strategic Career Moves for 2025

With industries integrating AI technologies, professionals looking to advance their careers are encouraged to prioritise AI training. Free and low-cost courses provide a viable path for those seeking to improve their career prospects without incurring significant costs. 

Employers are open to supporting their workforce in acquiring these skills, recognising the mutual benefits of an AI-trained team.

Individuals need to gain expertise in this field because it is no longer optional but essential for professionals seeking to thrive in the job market. 

The adjustment, effective from 1 November 2024, covers over 2,000 staff members, including executive trainees, general managers, and outsourced associates.

An internal memo revealed that employees would receive arrears for November alongside their December 2024 pay. 

The revised structure now sees entry-level executive trainees earning ₦364,000 monthly, up from ₦260,000, while senior banking officers will receive an annual gross salary of ₦20 million. 

This is the third pay adjustment by the bank since 2022, reiterating a consistent focus on supporting its workforce as the economic challenges increase.

Not just Union Bank, but some other Nigerian banks have also responded to the economic stresses. In recent months, other financial institutions such as Guaranty Trust Bank (GTBank) and Sterling Bank have introduced similar measures. 

GTBank increased salaries by 40% in September 2024, while Sterling Bank began paying employees a cost-of-living adjustment in August.

The Nigerian economy has been greatly impacted by currency devaluation and skyrocketing inflation, with consumer spending under pressure. 

Union Bank acknowledged these challenges in its memo, stating, “The recent adjustments to our compensation and benefits package strongly reflect our commitment to investing in our employees and aligning with industry standards.”

Union Bank spent ₦34 billion on personnel expenses in 2023, representing a 27% increase from the previous year. With this new adjustment, the bank is projected to spend ₦47.6 billion on personnel in 2024.

This salary increase can also be connected to the banks’ goal to remain competitive, attract talent, and retain staff. GTBank’s recent salary increase, for instance, included all 3,300 employees, from junior staff to contract workers. 

The bank also raised wages for cleaners and drivers, who now earn between ₦70,000 and ₦150,000 monthly.

Nigeria’s current economy, shaped by President Tinubu’s reforms—including the removal of fuel subsidies and currency devaluations—has worsened financial difficulties for citizens, with inflation rates climbing to 33% and the naira depreciating by nearly 70%.