Job postings for AI-related roles surge 49% at top banks

The impact of artificial intelligence on Wall Street jobs is not about replacing them, but rather creating new ones. According to data from enterprise hiring firm Draup, job postings for AI-related roles at top banks such as JPMorgan Chase and Citigroup have seen a significant surge.

The number of listings has increased by 49% compared to last year, with a total of 139,819 AI-related job postings this year alone. This trend is particularly evident in the area of agent orchestration, which involves designing agents that work together on tasks.

As AI adoption continues to grow on Wall Street, a new wave of job roles has emerged that requires workers to embed AI directly into business lines. This trend involves deploying AI agents in various departments, from trading desks to back-office operations and human resources.

One key challenge in this process is stringing together multiple specialized agents to accomplish specific tasks. For instance, inspecting raw data might require one agent, while another is needed to analyze documents and a third to check regulatory compliance. This complexity demands workers with a unique combination of technical skills and domain knowledge.

Forward-deployed engineers are the ones typically involved in this process, requiring them to have expertise in both technology and specific business functions. According to industry experts, these professionals need to navigate intricate web-like structures created by edge cases and exemptions within each department.

Creating teams of agents to automate processes such as employee vacation requests can be particularly complex due to the numerous exceptions and special circumstances that arise. This complexity is often hidden beneath the surface, making it a time-consuming task to even automate simple processes.

The agent orchestration skill has become increasingly relevant for forward-deployed engineers, who must determine which agents are needed, what each one does, and which technology to use. They also need to decide when human oversight is required, adding another layer of complexity to their job responsibilities.

The increasing use of artificial intelligence on Wall Street is not only changing job requirements but also creating a high demand for specific skills.

Technical skills such as understanding tools like LangGraph, which enables multistep workflows, and LlamaIndex, which facilitates connections between AI applications and data, are in high demand. References to these tools have seen significant growth, with LangGraph jumping 679% and LlamaIndex rising by 291%. Another technique gaining traction is retrieval-augmented generation, or RAG, which involves feeding AI models information from company databases.

In addition to technical abilities, there is a growing emphasis on soft skills. This includes problem-solving, creativity, and the ability to ask tough questions. These skills are becoming increasingly essential as companies work to harness the full potential of their AI systems.

The trend towards responsible AI is also driving growth in specific areas. Job postings referencing "responsible AI" have surged 657% this year, while those mentioning AI governance and risk management have jumped 394% and 359%, respectively. The demand for skills related to risk and control infrastructure, as well as security measures to prevent systemic vulnerabilities, is on the rise.

As financial institutions increasingly adopt AI technologies, they are placing greater emphasis on ensuring the security of third-party vendors used in these products.

The demand for skills related to risk and control infrastructure is skyrocketing, particularly those that can identify potential cybersecurity threats from rogue vendors.

Major banks are addressing this challenge by implementing internal reskilling programs to train existing developers and domain experts in AI-related roles, aiming to bridge the talent gap.