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  1. Analysis
August 3, 2021

Where are major banks, central banks, and non-bank competitors companies focusing their artificial intelligence hiring efforts?

By Michael Goodier

Companies are increasingly hiring for artificial intelligence roles in the retail banking and lending sector, but some parts of the world are proving more attractive than others

Artificial intelligence is an area which has seen rapid growth across a variety of industries in recent years – not least among major banks, central banks, and non-bank competitors companies.

Figures show that the number of new artificial intelligence roles being advertised for these companies has increased in recent months – with firms across the industry looking to expand their capabilities.

The number of newly advertised roles stood at 7,451 in Q1 2021. That’s up from 4,936 in Q4 2020 and up from from 4,584 in Q3 2020.

The figures are compiled by GlobalData, who track the number of new job postings from key companies in various sectors over time. Using textual analysis, these job advertisements are then classified thematically.

GlobalData's thematic approach to sector activity seeks to group key company information by topic to see which companies are best placed to weather the disruptions coming to their industries.

These key themes, which include artificial intelligence, are chosen to cover "any issue that keeps a CEO awake at night".

By tracking them across job advertisements it allows us to see which companies are leading the way on specific issues and which are dragging their heels - and importantly where the market is expanding and contracting.

Where are companies hiring for artificial intelligence careers in retail banking and lending?

Looking across key major banks, central banks, and non-bank competitors companies tracked by GlobalData, the US is currently seeing the largest number of artificial intelligence job advertisements. Last quarter the country saw 3,209 advertisements - up from 2,284 in Q4 2020 and 1,989 in Q3 2020.

On a city level, Bengaluru (India) had the most newly advertised artificial intelligence roles in Q1 2021 with 322, followed by Singapore, (Singapore) with 238, and Mumbai, (India) with 217.

Where is seeing the most growth for artificial intelligence roles in retail banking and lending?

The biggest growth area has been in India - which saw 560 job adverts for artificial intelligence in Q4 2020, increasing to 1,411 in Q1 2021.

In terms of cities, firms are increasing artificial intelligence hires in York - with 44 roles in the latest quarter - up from zero in the previous one.

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