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November 5, 2021

Asia-Pacific is seeing a hiring boom in retail banking industry AI roles

By Emil Filipov

Asia-Pacific was the fastest growing region for Artificial Intelligence (AI) hiring among retail banking industry companies in the three months ending September.

The number of roles in Asia-Pacific made up 25.7 per cent of total AI jobs – up from 25.1 per cent in the same quarter last year.

That was followed by North America, which saw a -0.5 year-on-year percentage point change in AI roles.

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.

Which countries are seeing the most growth for AI roles in retail banking and lending?

The fastest growing country was China, which saw 1.9 per cent of all AI job adverts in the three months ending June last year, increasing to 3.1 per cent in the three months ending September this year.

That was followed by Belgium (up one percentage points), Italy (up 0.7), and Australia (up 0.2).

The top country for AI roles in the retail banking industry is the United States which saw 45 per cent of all roles in the three months ending September.

Which cities are the biggest hubs for AI workers in retail banking and lending?

Some 5.9 per cent of all retail banking industry AI roles were advertised in York (United States) in the three months ending September - more than any other city.

That was followed by Pune (India) with 5.9 per cent, Bengaluru (India) with 3.7 per cent, and Singapore (Singapore) with three per cent.

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