The Rise of AI Talent Recruitment in Leading Banks
Leading banks are ramping up their efforts to recruit and train tech talent to drive their AI initiatives, according to Evident Insights’ latest report on 50 of the largest global financial firms.
Dive Brief:
- According to Evident Insights, the AI talent pool among the banks analyzed grew by 25%, with Bank of America, Capital One, Citi, JPMorgan Chase, and Wells Fargo leading the way.
- The recruitment and training push has led to tangible results, with the top 10 banks in AI talent having nearly double the number of reported use cases compared to other firms.
- Banks are actively seeking AI expertise to complement their business heads, with a focus on bringing in talent from Silicon Valley companies like Meta, Google, and OpenAI.
Dive Insight:
Effective tech transformations rely on having the right development and deployment expertise in place. Banks that have invested in data and cloud infrastructure to support AI adoption are now expanding their talent pool as they begin to see returns on those investments.
Roles across model risk, product management, data engineering, and software implementation have seen increased staffing at large banks, with AI headcounts growing at five times the rate of overall hiring.
Capital One, for example, has significantly expanded its AI staff by recruiting top talent, including Amazon’s former chief scientist and head of enterprise AI, Prem Natarajan.
Citi has also been bolstering its AI capabilities by hiring industry experts like Shobhit Varshney from IBM to lead its AI efforts and Dipendra Malhotra to oversee technology for its wealth division.
As banks focus on enhancing their AI leadership, they are also investing in upskilling initiatives for their workforce, with more banks now offering AI training programs for employees at all levels.
Overall, the trend of increasing AI talent recruitment and training is evident across the banking industry, with a growing emphasis on building a strong foundation of expertise to drive innovation and competitiveness in the digital age.
For more information, you can refer to the original source here.
