Artificial Intelligence as an Opportunity for Junior Bankers: A Look Behind the Scenes

A shift is emerging in the finance industry that could significantly influence the career paths of junior bankers. However, Sopnendu Mohanty, CEO of the Global Finance & Technology Network, reassures that the use of artificial intelligence (AI) may improve rather than threaten the way the industry operates. Mohanty, who was with Citi for nearly two decades and made history as the first fintech chief of the Central Bank of Singapore, sees AI as a means to make bankers more productive. Compared to the early days of his career in 1997, AI opens up the possibility of serving a larger number of clients more effectively. Mohanty is convinced that both banks and young employees will benefit from technological advancements. He sees improved customer retention as a clear advantage for all parties involved. He is supported by Kerry Blum, a partner at Goldman Sachs, who emphasizes that AI can significantly enhance the quality of work for young bankers. Junior analysts have the opportunity to take on more significant tasks and learn from AI-supported tools. Nevertheless, there are concerns about the impact of AI on the job market. Dario Amodei, CEO of Anthropic, warned that in the long term, up to half of entry-level positions could be at risk. Despite these concerns, Jeremy Barnum, CFO of JPMorgan Chase, spoke positively about the efficiency gains from AI. The technology is already recognized as a valuable tool that benefits both newcomers and experienced employees.