Banks worldwide rush to hire chief AI officers, IBM reports
Banks around the world are scrambling to hire chief AI officers, with major players like HSBC, Commonwealth Bank of Australia, and Lloyds Banking Group making big moves in just the past few months.
According to IBM, 76% of organizations now have someone in this role, up from only 26% last year, which shows how quickly banks want to get serious about artificial intelligence.
Chief AI officers earn median $1.6 million
Chief AI officers are earning serious money, with median salaries at $1.6 million and top earners reaching $3.5 million.
Even with these high salaries, there aren't enough qualified people to go around, especially in places like Singapore.
To help close the gap, universities such as University of Chicago and Duke are rolling out programs focused on AI leadership.
Experts question AI chief role longevity
Some experts wonder if this job will last long term.
For now, though, banks seem eager to have someone leading their AI strategy as technology keeps evolving fast.