AI summary
Summary of article:
The number of technology talent and jobs in the New York metropolitan area exceeds that of the San Francisco Bay Area. AI has driven the expansion of traditional industries and technology companies, but the high cost of living has also increased the pressure of living in New York.
California is the center of the American technology industry, but now this place seems to be gradually replaced by New York. CNBC Make It reported that the number of technology workers in the New York metropolitan area to integrate artificial intelligence into work has exceededsan francisco bay area The number of technology workers has increased in New York over the past four years, but decreased in San Francisco. Artificial intelligence companies like OpenAI have also continued to expand their operations in New York City.
Erin Sullivan, 25, graduated from the University of Oklahoma’s Department of Information Engineering in 2023 and joined Bank of America in New York as a software engineer. She had only been to New York once, before deciding to work in New York.
Sullivan said that trip to New York left a lasting impression on him. Being able to get on the subway and go anywhere was magical to her, and she knew she wanted to return to New York. She was one of many tech workers who came to New York.
An August report from real estate and investment firm CBRE said the New York metropolitan area now has the largest number of technology workers in the United States with 394,300 positions, while the Bay Area has 375,730 positions. Between 2022 and 2025, New York’s technology workforce will grow by more than 30,000 people, while San Francisco will lose about 24,000.
Lauren Crowley Corinett, vice president of CBRE, said New York is number one in today’s technology talent market.
Julie Samuels, CEO of Tech:NYC, a nonprofit representing New York’s technology industry, said most of New York’s technology talent hiring boom comes from industries outside the traditional technology sector. Tech:NYC released a report this month that revealed that only 35% of technology workers in New York work for technology companies and startups, and 64% work at non-tech companies like banks or media.
Samuels said that if you think about industries that have been growing in New York for a long time, such as finance and real estate, technology has increasingly become a driving force for the growth of these industries. To keep up with the pace of artificial intelligence, everyone is recruiting technical personnel and consultants. These traditional industries are thinking about how to integrate artificial intelligence into their work.
Artificial intelligence companies are also expanding their operations in New York. OpenAI leases a 90,000-square-foot office in lower Manhattan, and Anthropic said it plans to double its New York workforce to 1,000 people this year.
Korinet said New York is extremely attractive to technologists because it has everything and is a vibrant and attractive place to live.
Samuels said the high cost of living in New York is a major challenge even for technology workers who earn six-figure annual salaries immediately after graduating from college. On the other hand, an influx of large numbers of high-paid technology workers could exacerbate the cost-of-living crisis for other New Yorkers. He believes that New York’s booming technology industry should benefit all New Yorkers, not just startups.
Summary FAQ
-
Because the number of technology workers in New York exceeds that of the San Francisco Bay Area, and large industries such as finance and real estate are accelerating the introduction of AI, bringing a large number of technology vacancies and attracting a continuous flow of talents.
-
The CBRE report notes that there are 394,300 technology jobs in the New York metropolitan area and 375,730 in the Bay Area. Between 2022 and 2025, New York will grow by more than 30,000 people, while San Francisco will lose about 24,000 people.
-
The opportunity is that AI companies and traditional industries continue to expand, increasing employment demand; The risk is that the influx of high-paid technology talent could drive up housing prices and the cost of living, putting more pressure on ordinary New Yorkers.
