Yahoo Finance How AI Can Help You Get a Raise or Promotion
You may have learned that the road to securing raises and promotions at work is paved with strategic networking and massive effort. While that advice may still hold, there are other, more modern ways to advance your career. The latest tool you can employ is artificial intelligence (AI for short).
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While we’re still on the brink of learning AI’s capabilities, there are several things it can do to help you professionally. We’ll discuss how it works its magic, share some of the top AI-related skills you need to know, and offer advice on how to gain this essential knowledge. Finally, we’ll leave you with some actionable tips for asking for your next pay bump or move up the company ladder.
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Can AI Help Advance Your Career?
With the right know-how, “AI can help you increase your productivity. If you can deliver more output at the same quality for your company, you have a good case that you’re delivering more value to the business. And if they want to keep you, they should consider offering you [the] market rate,” said Scott Lieberman, founder of Touchdown Money.
But how does AI help you amp up your productivity and, subsequently, your professional worth?
Vikrant Shaurya, CEO and founder of Authors on Mission, said, “By leveraging AI tools, professionals can automate mundane tasks and focus on strategic initiatives,” driving the company forward rather than doing busy work.
AI can also help you make informed decisions, yielding better outcomes and attracting positive attention from company leadership.
Sophie Bryan, founder of Ordinarily Different, said, “AI can analyze vast amounts of data and provide valuable insights. By using AI tools or platforms, you can make data-driven decisions, which can demonstrate your analytical skills and problem-solving abilities. [Plus], it can help you come up with innovative solutions and make accurate predictions.”
In addition, AI can help you master one of the most vital professional capabilities: communication.
Jason Banks, executive vice president at Lloyd Staffing, said, “AI can help you with your language and communication [skills] over any channel once you learn how to prompt an AI engine such as ChatGPT correctly [to achieve] the desired result.”
Banks also noted, “AI is an engine and a resource like Google that can generate data, information, and knowledge to [help you] learn more about the [overall] market, the job function you’re in, where your industry is going, [and more]. [It can] help you tune into where you may need to upskill yourself.”
Your skillset and the salary you can command or the roles you can assume will likely grow in tandem.
Finally, using AI effectively can help you position yourself as a leader within your organization.
Banks said you can “be the one inside your company that shares [insights about it] and becomes the ‘intrapreneurial’ voice on how AI can help colleagues, business units, divisions, [and] customers. Become a presence with a technology that all levels [of the firm] are curious [about] and paying attention to,” and soon, the higher-ups will be paying attention to you, too.
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Top AI-Related Skills To Know
Lieberman said, “The most important skills [to have] are the ones that make the company more money. Or if you work for a non-profit, [the ones] that advance the organization closer to its objectives.”
But what are some of the specific capabilities you need? Our experts agree that if you want to grow your career with AI, you should hone in on the following:
Math (linear algebra, statistics, and calculus)
Programming languages (Python, R)
Machine learning principles (supervised and unsupervised learning, model evaluation, feature engineering)
Machine learning libraries (TensorFlow, PyTorch)
Data analysis, visualization, and interpretation
Problem-solving
Critical thinking
Communication
Collaboration
Specific AI tool use-including its limitations (depends on the task at hand)
Bryan added, “Awareness of ethical implications related to AI, such as privacy, bias, and fairness, is becoming increasingly important. Professionals who understand these ethical considerations and can address them in their AI work will be highly sought after.”
Best Ways To Learn
If you’re ready to dive into AI, here are a few ways you can do so.
Sign Up for a Course or Project
“Platforms such as Coursera, edX, and Udacity offer comprehensive courses on AI. Gaining hands-on experience through projects or competitions like Kaggle can solidify [your] understanding of AI,” said Shaurya.
Study Independently
“There are many free AI tutorials on YouTube and blogs. [Focus on] the ones specific to your job function,” said Lieberman.
Experiment
Banks said, “Use ChatGPT for an email, try an AI app for a presentation or to create a new image or help post on LinkedIn or streamline a project. Testing, learning, and trying is the way forward.”
Caution: Once you start learning, you can never stop, warned Bryan. “AI is a fast-paced field, so it’s important to stay current with the latest research, advancements, and industry practices. Follow relevant blogs, attend conferences or webinars, and engage with AI communities to stay in the loop.”
Go For That Raise or Promotion
Once you have some serious AI skills under your belt, it’s time to make your case for a raise or promotion.
First, gather the facts. What new knowledge did you acquire? How did your enhanced capabilities positively impact the organization? Make sure to quantify your achievements with time or dollars saved or revenue increased.
Then, look at market pay data for your current (or target) position through sites like salary.com and gauge where you fall in range.
Next, schedule a meeting with your boss to discuss your accomplishments and value to the company. Objectively lay out the data and confidently ask to be compensated and positioned within the firm in line with your contributions.
If they say yes, take a moment to celebrate. Then, be sure to avoid common money mistakes many people make after getting a pay increase, such as spending all of the new funds rather than using them to pay off debt or save for the future.
However, if they say no, don’t take it to heart. If you keep your AI skills sharp, they will ultimately help propel you to the next level of your career.
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