In the past six months, the world’s foremost banks have expanded their AI talent by 9%, a rate that doubles their overall headcount growth, according to a survey from Evident.
Evident’s Findings on AI Implementation in Banking The Evident AI Talent Capability Dispatch reveals a noteworthy increase in AI-focused roles, particularly those aimed at moving AI from the planning stages to full-scale production lines.
Between November 2023 and April 2024, there was a notable 14% rise in Implementation staffing, with other areas such as Data Engineering and AI Development also seeing increases. Notably, 68% of the new AI roles in the US were focused on implementation capabilities, compared to 47.3% in Europe.
Leading Banks in AI Talent Acquisition JPMorgan Chase emerges as a leader in the volume of AI talent, possessing 5.7 times more AI professionals than the average bank indexed in the Evident AI Index. Close behind, Capital One boasts a high AI talent density, with 12% of its workforce engaged in AI-related tasks. These figures underscore the aggressive strategy of US banks in fortifying their AI capabilities.
Four banks are leading the way in Europe. Deutsche Bank, for instance, increased its global AI talent by 26.7%, significantly above the index average. Similarly, Santander and ING have multiplied their AI talent density, with ING establishing significant AI hubs in Romania. Lloyds Banking Group in the UK has also intensified its focus on expanding Data Engineering roles.
Strategic Importance of AI in Banking Evident Co-Founder and CEO Alexandra Mousavizadeh stated, “AI is starting to move from the lab to the front office, with the leading banks focusing on finding the right talent to implement AI and make it work for the bottom line. AI is viewed as a critical strategic priority, which is why the banks’ AI talent volumes continue to grow at pace, seemingly immune from the ongoing reduction in force initiatives seen across the wider sector.”
Mousavizadeh added, “The top 10 banks for AI talent currently account for 51% of the overall banking industry talent pool—a huge advantage when it comes to AI adoption. This concentration of AI talent has real consequences. If the banks that lag behind cannot close the gap, the race to implement AI will become an uphill struggle.”
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