Million-dollar bonuses and salary increases: the war for talent in artificial intelligence in Europe

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To retain its employees, Google DeepMind gave millions of dollars in shares to a group of senior researchers. The company wants to prevent employees from leaving for rivals or creating their own businesses. Companies like Google DeepMind now have to pay a lot to retain their professionals Jernej Furman/Flickr via Wikimedia Commons Investments from artificial intelligence (AI) startups have heated up the competition for talent in Europe. Established companies like Google DeepMind now have to choose between paying a lot or losing their best professionals in the region. The battle rages as investors pour more money into AI companies in an attempt to discover the next overnight success in the space, as happened with OpenAI’s ChatGPT. Some foreign AI companies – including US companies Anthropic and OpenAI and Canadian company Cohere – have opened offices in Europe in 2023, increasing pressure on technology companies that are already trying to attract and retain talent in the region. DeepMind, created in 2010 and purchased by Google in 2014, is known for applying AI to everything from board games to structural biology. Now, it faces well-funded rivals, as well as the departure of employees who want to launch their own businesses. In an effort to retain employees, DeepMind gave a group of senior researchers access to restricted shares worth millions of dollars earlier this year, according to a source familiar with the matter. “It’s a competitive space, for sure,” a DeepMind spokesperson told Reuters, adding that the company “continues to do well in attracting and developing talent.” Recent departures from DeepMind include its co-founder Mustafa Suleyman, who created Inflection AI alongside LinkedIn billionaire Reid Hoffman, and scientist Arthur Mensch, now chief executive of Mistral AI. Meet Sora, the artificial intelligence “sister of ChatGPT” that creates videos from text Competitive salary There has been an “exponential increase” in the pay of senior employees at AI companies in the UK over the last year, according to the company Avery Fairbank executive search. “The entry of foreign AI giants such as Anthropic and Cohere into the London market will further intensify competition for AI talent,” said Charlie Fairbank, managing director at Avery Fairbank. Executives with annual salaries of around 350 thousand pounds (R$ 2.2 million) saw their remunerations jump between 50 thousand and 100 thousand pounds (R$ 320 thousand to R$ 640 thousand), according to him. Cohere, which designs chatbots and other tools, hired Phil Blunsom, a lead researcher at DeepMind for seven years, as its chief scientist in 2022. Sebastian Ruder also joined Cohere from DeepMind in January. “It’s rare to find a company that is building a large business from scratch, with many of the industry’s top minds,” he told Reuters. “When that kind of chance comes along, you take it.” Ruder declined to comment when asked about his salary. Ekaterina Almasque, general partner at venture capital firm OpenOcean, said DeepMind is no longer the “distant leader in the field.” “All of these companies are competing for the same pool of talent, and with the AI ​​skills shortage, this is increasingly more of a lake than an ocean.” Suleyman recently began recruiting a London-based technical team for Inflection AI, while Mensch’s Mistral has quickly become one of the continent’s hottest startups, raising $415 million in funding in December . Mistral declined to comment and Inflection did not respond to a request for comment. READ ALSO: Cell phones can be an ally to discover hidden cameras in rooms; see how to protect yourself What the brain chip implanted by Elon Musk’s company looks like in a person The twins stolen after birth who were reunited thanks to a video on TikTok See first impressions of the Apple Vision Pro Apple Vision Pro: see first impressions of reality glasses virtual

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