29 August 2019 · Absolute IT
The latest Absolute IT Digital Remuneration Report shows that the national median base salary for digital professionals now sits at $87,000, with both Wellington ($91,250) and Auckland ($90,000) the regions with the highest regional digital salary rates.
It is clear that the digital economy can have a profound positive effect on the New Zealand economy, as opportunities in Artificial Intelligence (AI) and interactive media can increase New Zealand’s GDP and bolster our export income tremendously over the next 15 – 20 years.
Gaming is a serious industry
According to a new report “Interactive Aotearoa – Driving growth and wellbeing through interactive media” interactive media is a $143 million industry and one of the fastest growing parts of our digital economy. Growing at 9% annually the global market will be worth $258 billion in 2021.
Mobile apps, gaming, virtual reality, augmented reality,esports, edTech and Medtech are leading the trends in this sector.
The gaming sector seems to be the jewel in the crown of the interactive media sector. In New Zealand the gaming sector has grown 39% annually for six years and the report estimates that with the right support it will be worth $1bn by 2024, if it maintains this growth rate.
The rise of AI, machine learning and an acute shortage of talent
Data is the fuel of the digital economy and as industry is trying to make sense of all the data, the role of AI as a business enabler and competitive advantage is growing more and more.
The potential impact of AI was evident in a report published by AI New Zealand ‘Artificial Intelligence – Shaping a Future New Zealand’, which investigated the state of AI implementation in New Zealand. The Report found that 52% of early adopters stated that AI already is, or is going to be a game changer in their organisation. It also estimates that by 2035, AI has the potential to increase New Zealand GDP by up to $54 billion.
The report looked at the main drivers of AI uptake in New Zealand and the top five are:
– Making sense of vast amounts of data
– Automating tedious or dangerous work
– Supporting decision making with speed and accuracy
– Reducing business costs by automation
– Optimising business processes
Finding AI talent is a global challenge as there is an acute shortage of machine learning experts driving huge competition for talent and it is currently the highest demand growth tech skillset in the world.