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, writes Michael Goodier
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.
Figures show that the number of new AI 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 the first quarter of 2021. That’s up from 4,936 in the fourth quarter of 2020 and 4,584 in the third quarter of 2020.
On a city level, Bengaluru, India had the most newly advertised artificial intelligence roles in the first quarter of 2021 with 322, followed by Singapore with 238, and Mumbai, India with 217.
Where is seeing the most growth for AI roles in retail banking and lending?
The biggest growth area has been in India, which saw 560 job advertisements for AI in the fourth quarter of 2020, increasing to 1,411 in the first quarter of 2021.
In terms of cities, firms are increasing AI hires in York, with 44 roles in the latest quarter, up from zero in the previous one.