UBS has made AI skills a prerequisite for incoming junior bankers starting in 2027. The Financial Times reports that applicants for graduate and intern roles in Global Banking and Markets must demonstrate how they can use AI to improve outcomes and efficiency.
Interviews will include questions about candidates' AI usage. This requirement sits alongside classic criteria like a strong degree and will also apply to other newly posted roles.
UBS said AI skills complement academic and social abilities but do not replace them. The bank is also testing analyst avatars for client presentations. Banks are increasingly automating routine junior work like financial analysis, research, and client presentations.
Spain's Santander is also looking for advanced AI users for some trainee programs, according to its documents.
Morgan Stanley analysts expect more than 200,000 banking jobs in Europe to disappear within five years. JPMorgan's Europe head Conor Hillery warned in December that juniors can't lose the fundamentals.
UBS is one of the first major banks to demand AI skills from its incoming junior bankers. The requirement reflects a broader trend in the banking sector as institutions adapt to technological advancements.
"AI skills complement academic and social abilities but don't replace them," said UBS. The bank emphasized that AI is a tool to enhance, not replace, traditional competencies.
The announcement follows growing pressure on banks to modernize operations and reduce reliance on routine tasks. UBS did not say how AI skills will be assessed, and the open question remains on how to measure proficiency in this new requirement.
Source: thedecoder
