Financial Institutions

The Impact of Artificial Intelligence (AI) on the Financial Job Market

David He Michael Guo Jerry Zhou Venessa Guo

AI technology will change the business world in three aspects: automation, intelligence and creation. It will increase automation, support intelligent analysis and decision-making, and create new business models and industries. In the financial sector, it will make some jobs redundant, while at the same time increasing efficiency and creating jobs. Based on analysis of the three major value chains in the financial services sector — banking, insurance and capital markets, this report will examine the potential impact of AI technology on each industry, its jobs and activities, and further estimate the impact on overall employment in the financial industry.

Financial Institutions