Technological advancements are disrupting
skills requirements
The Financial Services industry has seen significant adoption of AI and automation, particularly for repetitive tasks such as transaction processing and compliance reporting.
As well as boosting productivity, our research found that AI is reshaping certain mid-level roles rather than outright replacing them—and that it is leading to the creation of new roles, too. This aligns with findings from the European Banking Federation, which reports that AI adoption is expected to both eliminate certain roles and create new ones globally, particularly in IT-related areas such as data science and AI model engineering7.
The share of jobs requiring AI skills in the Financial Services industry is growing rapidly. Among all industries, Financial Services (alongside Professional Services) is second only to the Information, Communication and Technology industry in terms of AI skills requirements. In 2024, AI skills were required for 5.1% of all Financial Services jobs, significantly higher than the average across industries (Figure 2).
