The global banking and payments industry experienced a 27% drop in new job postings related to artificial intelligence in Q3 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 58% decrease versus Q3 2022. GlobalData’s Banking & Payments: Hiring Trends & Signals Q3 2023 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.
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 Q3 2023, down 21% 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 Q3 2023, with new job postings drop by 21% quarter-on-quarter. Management Occupations came in second with a share of 17% in Q3 2023, with new job postings dropping by 38% over the previous quarter.
The other prominent artificial intelligence roles include Business and Financial Operations Occupations with an 8% share in Q3 2023, Architecture and Engineering Occupations with a 2% share of new job postings.
Top five companies in banking and payments industry accounted for 22% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q3 2023 were JPMorgan Chase & Co, Standard Chartered, Deutsche Bank, Capital One Financial, and Citigroup. Together they accounted for a combined share of 22% of all artificial intelligence-related new jobs in the banking and payments industry.
JPMorgan Chase & Co posted 772 artificial intelligence-related new jobs in Q3 2023, Standard Chartered 260 jobs, Deutsche Bank 218 jobs, Capital One Financial 200 jobs, and Citigroup 196 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 44.11% share of total new job postings, Q3 2023
The largest share of artificial intelligence-related new job postings in the banking and payments industry in Q3 2023 was in the US with 44.11% followed by India (11.77%) and the UK (5.51%). The share represented by the US was four percentage points lower than the 48.55% share it accounted for in Q2 2023.
For further understanding of GlobalData's Banking & Payments: Hiring Trends & Signals Q3 2023, buy the report here.