92% of Banks Expand AI Workforce

Jan 10 / EDITOR

A report published by HKMA reveals that there is a strong demand in AI talents in HK.

The report studied the trends and opportunities of the application of AI and Machine Learning technologies in the banking and finance sector.

As reflected in the report, 92% of banks are expanding their AI workforce in the coming 5 years, indicating a huge opportunity for developers and experts in the AI field.

In addition, the banks also listed out the top 5 barriers affecting the adoption of AI:

·       Lack of employees with AI expertise – 70%
Insufficient data – 52%

Design ethics of AI – 48%
Data privacy & security – 44%
Legal compliance challenges – 44%

 

The report covers a comprehensive topics of AI development in the local finance sector. For details please click here.