UBS requires mastery of artificial intelligence to hire junior positions

UBS is requiring candidates for junior investment banking roles to demonstrate mastery of artificial intelligence as a hiring requirement, in a sign of how technology is reshaping graduate recruitment at some of Europe's biggest banks.

The Swiss group is requiring candidates and interns joining its global banking and markets divisions in 2027 to demonstrate how they can use AI to "improve results and efficiency," according to people familiar with the matter.

The new condition is in addition to more traditional requirements, such as being on track to obtain a degree with a 2.1 classification, equivalent to a good academic performance in the British system, which makes UBS one of the first large financial institutions to explicitly require AI knowledge.

The move highlights how AI skills are becoming a prerequisite for both traditional banking roles and technology and data jobs, as banks increasingly turn to these tools for routine tasks previously performed by junior employees, from financial analysis and research to preparing client presentations.

A person familiar with the UBS initiative said questions about AI "fluency" are being added to selection interviews to assess how candidates use the technology.

Spain's Santander also said it is seeking "AI power users" for some of its programs in corporate and investment banking, according to company documents.

The new requirements come amid warnings of widespread job losses in the banking sector as advances in new technology allow banks to automate more activities.

Analysts at Morgan Stanley predicted that more than 200,000 jobs in the European banking sector would be under threat over the next five years as banks adopt AI and close more branches.

Some executives have warned that banks need to ensure junior employees continue to learn the ropes as technology takes over more routine tasks.

Conor Hillery, JPMorgan Chase's co-chair for Europe, the Middle East and Africa, told the Financial Times global banking summit in December that banks needed to be "very careful" that employees did not "lose understanding of basic, fundamental principles."

He added that JPMorgan was trying to balance using AI to speed up basic tasks with training junior professionals in traditional banking skills.

UBS itself has been experimenting with the technology by creating analyst avatars capable of making video presentations for clients. According to the bank, the initiative will allow employees to focus on other tasks.

A person familiar with the UBS initiative said the AI ​​proficiency requirement will also apply to other vacancies advertised by the company.

UBS stated: "We continually review our recruitment criteria to ensure they reflect the skills we need. As AI is fundamentally reshaping financial services, AI capabilities and experience have become an important aspect of future career success and are therefore relevant recruitment criteria.

“AI expertise complements, rather than replaces, academic, analytical and interpersonal skills, which continue to be central to our approach to hiring talent.”