Banks such as Morgan Stanley and Citi are enhancing the skills of their engineers to adapt to the AI era. Executives like Trevor Brosnan from Morgan Stanley, Jonathan Lofthouse from Citi, and Nish Rana from Capital One have revealed that they are utilizing videos and internal training programs to enhance their engineers’ expertise.
In response to the rapid adoption of AI, banks are focusing on retraining developers. They are implementing various initiatives such as specialized courses, video tutorials, and voluntary activities like hackathons. Communication skills with AI systems are highlighted as crucial by technology leaders in this new era of continuous learning.
Unlike in the past when software developers at banks only had to navigate major technological changes every few years, today they must keep up with new developments almost monthly. The need for engineers to be in a constant state of learning is emphasized by Trevor Brosnan, who leads technology strategy at Morgan Stanley.
On Wall Street, tech professionals are engaging in comprehensive training programs, improving their communication abilities, and consuming educational content like YouTube videos to stay abreast of AI advancements. The fast pace of change means that knowledge about AI can quickly become outdated, as noted by Jonathan Lofthouse from Citi.
Major financial institutions such as JPMorgan and Citi are investing heavily in AI technologies to boost efficiency, enhance customer experiences, and reduce costs. To realize these strategies, they are actively seeking skilled individuals who can drive these innovations forward.
According to Alexandra Mousavizadeh from Evident, which monitors AI trends in finance, employees who excel at banks will be those who can effectively leverage AI tools. Banks are committed to supporting their staff through extensive training programs for rapid skill development.
As highlighted by Nish Rana from Capital One, the ability to adapt and learn continuously is essential when hiring new talent for roles related to AI and machine learning. Technology leaders from Citi, Morgan Stanley, and Capital One shared insights on their approaches to upskilling engineering teams with Business Insider.
These banks collectively employ thousands of developers who are undergoing accelerated training efforts to enhance their capabilities. Dov Katz from Morgan Stanley emphasized the importance of teaching engineers how to effectively communicate with AI tools.
Developers must now communicate instructions clearly to AI systems using natural language rather than code. This paradigm shift requires developers to delegate tasks efficiently and collaborate with AI agents in real-time for optimal results.
While coding remains a fundamental skill for developers, banks like Capital One have established dedicated AI Academies offering a range of courses from foundational principles to advanced topics. New hires can quickly acquire the necessary skills through structured training programs.
Morgan Stanley and Citi offer a mix of internal and external training courses while encouraging participation in educational activities like the “Techflix” series at Citi. Video modules play a significant role in helping engineers master emerging AI skills within these organizations.
In addition to AI-focused training initiatives, banks continue to support traditional programs like hackathons and technology events. Opt-in programs have become popular among employees as they provide valuable learning opportunities amidst the fast-paced technological advancements.
While some engineers express anxiety about keeping up with the evolving landscape of AI, tech leaders believe that acquiring the right skills will enable them to focus on more strategic and impactful tasks in the future. Despite concerns about change, there is excitement about the transformative potential that AI brings to the industry.