City of London Corporation looks at AI and the workforce

The City of London Corporation and KPMG have published a report looking at the expected increases in demand for and productivity resulting from the use of AI in financial and professional services. The report says there has been a significant increase in demand for AI skills particularly for investment banking jobs over recent years. The report includes a framework for maximising the benefits of AI and stresses that firms should be looking to ensure that their AI strategy implementation aligns with the skills needed for its adoption, and not rush to make short-term savings through redundancy as that may hinder long-term savings.

Emma Radmore