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Banking’ s safest job? AI roles jump 13 % amid layoffs
An estimated 78,000 people are working in AI-related roles across the 50 banks tracked in the Evident AI Index, representing 2.04 % of overall headcount. Ultimately, AI transformation efforts require deploying the right configuration of people at the right time to accelerate change, optimise performance and realise results.
Although public disclosures still only reveal a fraction of what’ s happening inside the banks, these leading banks appear to not only have more AI use cases in production, but also a more diverse pool of use cases in production vs the banks with a less mature AI talent stack.
While BBVA started its aggressive hiring push for technology professionals in 2023, the bank continued to double down on its expansion of‘ AI Factories’ with additional centres of excellence in Mexico and Turkey.
BBVA also integrated two separate disciplines, Advanced Analytics( data scientists, Machine Learning and AI specialists) and Business Analytics( data specialists), under a unified organisation model.
Many others are ramping up hiring efforts in AI-related roles, including four banks emerging as potential challengers:
• CommBank
• BNY
• TD Bank
• Lloyds Banking Group.
Goldman Sachs rolled out its GS AI assistant to 10,000 employees, including bankers, traders and asset managers. A key priority of the bank is using AI to enhance the performance of its 12,000 developers over the next 12 – 24 months.
WeightWatchers takes strategic action to eliminate US $ 1.15 billion of debt
WeightWatchers has filed for bankruptcy in the US but has emphasised that it is‘ here to stay’.
WW International, a leader in science-backed weight management, announced in May that it will implement a financial reorganisation transaction that will bolster its financial position, increase investment flexibility in its strategic growth initiatives and better serve its millions of members around the world.
The‘ transaction’ will eliminate US $ 1.15 billion in debt from the company’ s balance sheet.
“ For more than 62 years, WeightWatchers has empowered millions of members to make informed, healthy choices, staying resilient as trends have come and gone,” said Tara Comonte, Chief Executive Officer of WeightWatchers.
“ The decisive actions we’ re taking today, with the overwhelming support of our lenders and noteholders, will give us the flexibility to accelerate innovation, reinvest in our members and lead with authority in a rapidly evolving weight management landscape.
“ As the conversation around weight shifts toward long-term health, our commitment to delivering the most trusted, science-backed and holistic solutions – grounded in community support and lasting results – has never been stronger, or more important.”
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