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  1. Analysis
March 4, 2022

North America is seeing a hiring boom in retail banking industry AI roles

GlobalData tracks hiring for AI roles within the retail banking sector

By Michael Goodier

North America extended its dominance for artificial intelligence (AI) hiring among retail banking industry companies in the three months ending January 2021.

The number of roles in North America made up 54.8% of total AI jobs – up from 48.2% in the same quarter in 2020.

That was followed by Middle East & Africa, which saw a 0.1 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 job ads in the retail banking industry?

The fastest growing country was the US, which saw 44.7% of all AI job adverts in the three months ending January 2020, increasing to 50.7% in the three months ending January last year.

That was followed by Australia (up 1.2 percentage points), Canada (up 0.6), and South Africa (up 0.1).

The top country for AI roles in the retail banking industry is the United States which saw 50.7% of all roles advertised in the three months ending January.

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

Some 4.6% of all retail banking industry AI roles were advertised in New York City (United States) in the three months ending January - more than any other city.

That was followed by Bengaluru (India) with 4.6%, Toronto (Canada) with 2.9%, and York (US) with 2.9%.

GlobalData is the parent company of Retail Banker International and its sister publications

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