NEW YORK–Jobs and roles related to artificial intelligence (AI) could be the only “safe jobs” in financial services as organizations “relentlessly” move forward with AI-led transformation, according to a new report.
Banking industry benchmarking firm Evident has released an AI talent report that has revealed how significant AI recruitment has been at financial institutions, with a 13% increase in AI staff at banks over the past six months. The report shows one in 50 employees recruited by the top 10 banks now work in AI-related roles, according to ComputerWeekly.com.
Strong Recruitment
The report found that recruitment of AI development professionals grew by 6%, hiring of data engineers increased by 14%, while the number of AI and software implementation experts hired increased by 42%, the publication added.
ComputerWeekly.com said the top three financial institutions investing in AI include JPMorgan Chase, Wells Fargo and Citigroup, while U.S. banks dominate the top 10 in terms of AI hiring, the UK’s HSBC and Barclays made the top 10, at numbers nine and 10, respectively. France’s BNP Paribas and Spain’s BBVA were at seven and eight, respectively ComputerWeekly.com said.
What One Bank is Doing
The Evident report stated Lloyds Banking Group announced it is training 200 of its senior leaders in AI, with the bank is working with training provider Cambridge Spark on a program that will embed AI skills. It also recently announced it is using Google Cloud’s Vertex AI to build machine learning and generative artificial intelligence development platform to be used by more than 300 of its data scientists.
‘Only Safe Jobs’
“Data suggests that AI roles may be the only safe jobs in banking right now,” said Evident CEOI Alexandra Mousavizadeh, according to ComputerWeekly.com. “Away from the market noise and volatility, the leading banks are quietly but relentlessly pressing forward with AI transformation. They’re adding talent with increased precision, laser-targeting their efforts on where hiring will help scale AI use cases that deliver measurable value.”
