Evident AI Talent Report

Mapping the race for AI talent in banking

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The Evident AI Talent Report provides the most in-depth and up-to-date analysis of AI talent in the banking sector. The report covers:

Acquisition
Staffing
Development
Retention

Key Findings

Explore the key findings below or download the full report.

1

At least 46,000 people work in the "AI & Data Core" across the 60 largest North American and European banks

AI & Data Core includes AI Development, Data Engineering, Data Governance & Ethics. As many as 100,000 global staff are involved in bringing AI to market across the banks.

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2

Even as banks cut jobs and institute hiring freezes they continue to invest in AI

AI & Data Core net staff numbers are up 4% in the 5 months from October 2022 to March 2023 - and 40% of AI staff started in their role since January 2022.

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3

JPMorgan Chase has the most AI staff, but Capital One has the highest proportion of its staff working in AI

European banks are rising to the challenge: BNP Paribas ranks #5 in terms of overall number of AI & Data Core staff, and ABN Amro and ING Groep rank second and third for talent density.

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4

New York is the global centre for AI talent, as measured by number of staff, followed by London, Toronto, Bengaluru and Paris

India has 3 cities in the top 10, as does the US.

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5

India is 2nd only to the US in terms of total AI staff numbers

AI talent is concentrated in six major cities in India, largely driven by historic IT offshoring decisions.

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6

Canadian banks are centralised in Toronto (making it the world centre for AI and Data Core staff) whereas US banks are far more dispersed

For example: Wells Fargo has AI-related staff in over 100 cities, likely reflecting legacy as much as strategy.

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7

Poaching from other banks is the largest source of talent for banks

US banks have a small net inflow, partially at the expense of UK banks. However, most poaching is within markets rather than between them. Wells Fargo, RBC, BNP Paribas and HSBC lead net inflows in their respective markets.

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8

North American organisations have built research teams to spearhead their AI strategy

JPMorgan Chase’s research dominance is being challenged by Ant Financial, with RBC, Visa and CapitalOne also showing strong performance in this space.

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Member Benefit

Compare the AI talent strategies of individual banks, and dive deeper into sector-wide trends, with access to company-specific Talent Profiles

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