The artificial intelligence boom is set to drive up wages for electricians, plumbers, construction workers, and steelworkers, making them among the most sought-after workers in the economy, according to Nvidia chief executive Jensen Huang.
Huang made the remarks during a discussion with BlackRock CEO Larry Fink at the World Economic Forum in Davos, as reported by Fortune. He said technology companies are pouring money into new data centers, and that total global capital spending on such projects could reach seven trillion dollars by the end of the decade.
Huang said humanity is on the threshold of an unprecedented era of infrastructure development that will employ hundreds of thousands of people. He argued that a high income should no longer be tied exclusively to a university degree, adding that nobody needs a doctorate in computer science to earn well.
The industry already faces a shortage of skilled tradespeople, even though the work pays well and does not require a college degree. In the United States, workers in those trades already earn more than one hundred thousand dollars a year.
According to McKinsey estimates, the US alone will need around 130,000 additional electricians, 240,000 construction workers, and 150,000 construction managers by 2030, a gap that is expected to push wages higher still.
Not everyone is as optimistic. Ford CEO Jim Farley warned that AI is reducing entry-level office jobs while the education system continues to steer young people toward four-year degrees. Farley also acknowledged a severe shortage of industrial and construction workers. Fink similarly identified electricians as a potential bottleneck for the data center buildout already underway.
