Artificial intelligence software can help workers decide if they’re being adequately paid

Artificial intelligence software - Earning - Money

A Stanford researcher has been training AI to predict what a person’s future earnings will be.

A researcher from Stanford has been training artificial intelligence software to forecast what a person’s future earnings might be along their current path and help them to decide what a more valuable skillset might be.

The researcher wants the AI to help people to better understand the future of a given career path.

Employers often withhold salaries at the application stage of the hiring process. That said, Stanford Institute for Human-Centered Artificial Intelligence researchers are working to help applicants to overcome this barrier. They are using artificial intelligence software to let prospective employees decide whether it would be worthwhile to apply to a given job.

Artificial intelligence software - Job Application Form

The researchers are using a process that involves training the AI on a dataset that contains more than one million job posting. In that way, the AI can “use the text of job listings to evaluate the salary-relevant characteristics of jobs in close-to real time.”

A recent UK study of 6,000 professionals revealed that 81 percent of job applicants consider salary to be the most important factor in finding new employment. Still, transparency barriers remain when it comes to a position’s earning potential. Employers balk at revealing just what compensation would be, even though the listings that include the offered salary will usually draw twice the number of successful candidates of those without it.

The artificial intelligence software can help applicants to learn what hasn’t been posted with a job description.

A BBC article said that only 12.6 percent of companies worldwide posted their salary range in their job postings in 2019. While that figure has been climbing, it hasn’t happened fast enough for many applicants who would like to know how they would be compensated for doing the required work.

The BBC report cited by went on to say that companies that are “forthcoming about their wages can attract better, more diverse talent, making salary transparency an actionable way of creating a more equitable workplace.”

The artificial intelligence software could help job applicants to gain some vital information about job listings so they can decide which ones have real potential to meet their compensation expectations.

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