As traditional banking roles face increasing automation and cost-cutting pressures, artificial intelligence (AI) positions have emerged as a bright spot in the financial sector. According to research by Evident, the number of AI specialists employed by major banks has grown by 13% over the past six months, even as overall industry headcount has declined by approximately 3% over the past two years.
Leading this hiring trend are JPMorgan, Wells Fargo, and Citigroup, which top Evident’s AI talent rankings. These institutions are transitioning from exploratory AI initiatives to full-scale implementations aimed at enhancing efficiency and reducing redundancies. JPMorgan CEO Jamie Dimon has emphasized AI’s potential to augment virtually every role within the bank.
The surge in AI hiring comes amid broader layoffs in the banking industry, particularly in investment banking divisions where firms like Goldman Sachs and Morgan Stanley have reduced staff due to weak dealmaking activity. In this context, AI roles are increasingly viewed as among the most secure positions in banking. Alexandra Mousavizadeh, CEO of Evident, noted that “AI roles may be the only safe jobs in banking right now,” highlighting the strategic importance banks are placing on AI capabilities.
Currently, the top 10 banks account for 48% of all AI talent in the sector, underscoring a competitive push among leading institutions to secure top tech talent. Banks that are slower to adopt AI strategies may find themselves at a disadvantage, especially as economic uncertainties persist. Mousavizadeh warned that lagging banks face significant challenges in executing AI strategies while simultaneously managing cost reductions in other areas.
This shift in employment trends reflects a broader transformation within the banking industry, where technological proficiency is becoming increasingly critical. As banks continue to invest in AI and related technologies, roles in this domain are not only expanding but also gaining prominence as key drivers of future growth and stability.
