The global banking and payments industry experienced a 57% rise in new job postings related to artificial intelligence in Q1 2024 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 16% increase versus Q1 2023. GlobalData’s Banking & Payments: Hiring Trends & Signals Q1 2024 report reveals comprehensive insights into hiring patterns, job roles, required skills, geographical trends, and key themes within the industry, facilitating anticipation of future workforce needs. Buy the report here.
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Notably, Computer and Mathematical Occupations jobs accounted for a 36% share of the global banking and payments industry’s artificial intelligence-related total new job postings in Q1 2024, up 53% over the prior quarter.
Computer and Mathematical Occupations drive artificial intelligence-related hiring activity
Computer and Mathematical Occupations, with a share of 36%, emerged as the top artificial intelligence-related job roles within the banking and payments industry in Q1 2024, with new job postings rising by 53% quarter-on-quarter. Management Occupations came in second with a share of 15% in Q1 2024, with new job postings rising by 16% over the previous quarter.
The other prominent artificial intelligence roles include Business and Financial Operations Occupations with a 6% share in Q1 2024, Architecture and Engineering Occupations with a 3% share of new job postings.
Top five companies in banking and payments industry accounted for 32% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q1 2024 were JPMorgan Chase & Co, Citigroup, Visa, Capital One Financial, and American Express. Together they accounted for a combined share of 32% of all artificial intelligence-related new jobs in the banking and payments industry.
JPMorgan Chase & Co posted 2,231 artificial intelligence-related new jobs in Q1 2024, Citigroup 510 jobs, Visa 509 jobs, Capital One Financial 459 jobs, and American Express 325 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 41.31% share of total new job postings, Q1 2024
The largest share of artificial intelligence-related new job postings in the banking and payments industry in Q1 2024 was in the US with 41.31% followed by India (18.86%) and the UK (5.84%). The share represented by the US was seven percentage points higher than the 34.54% share it accounted for in Q4 2023.
For further understanding of GlobalData's Banking & Payments: Hiring Trends & Signals Q1 2024, buy the report here.
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GlobalData’s Jobs Analytics uses machine learning to uncover key insights from tracking daily job postings for thousands of companies globally. Proprietary analysis is used to group jobs into key thematic areas and granular sectors across the world’s largest industries. classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
