Explore the key findings below or download the full report.
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.
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.
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.
India has 3 cities in the top 10, as does the US.
AI talent is concentrated in six major cities in India, largely driven by historic IT offshoring decisions.
For example: Wells Fargo has AI-related staff in over 100 cities, likely reflecting legacy as much as strategy.
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.
JPMorgan Chase’s research dominance is being challenged by Ant Financial, with RBC, Visa and CapitalOne also showing strong performance in this space.
