Link Bloomberg

Deutsche Bank is using artificial intelligence to scan wealthy client portfolios. ING Group is screening for potential defaulters. JPMorgan is advertising for more AI roles than rivals. Morgan Stanley bankers are, well, “experimenting.” Unsurprisingly, the AI revolution is unfolding rapidly on Wall Street as wider interest grows in the evolving technology and its likely impact on business.

Given the fears of mass unemployment (if not extinction) at the robot hands of this new tech, it may be surprising to some that the nascent industry is actually creating jobs—for now anyway. At the most enthusiastic banks, about 40% of all open roles are for AI-related hires, such as data engineers and quants (as well as ethics and governance roles). Says Kirsten-Anne Bremke, global lead on data solutions at Deutsche Bank’s international private bank:  “I’m a big fan of combining artificial and human intelligence.”

Tags #AI #AI-Banks #banking-employment