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Wall Street firms tie bonuses, promotions to AI skills, survey finds

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Wall Street firms tie bonuses, promotions to AI skills, survey finds

Business News Tech AI Wall Street firms tie bonuses, promotions to AI skills, survey finds

AI capabilities are rapidly gaining importance on Wall Street, with a growing trend of companies tying compensation to AI expertise. Approximately 25% of financial firms now correlate employee raises and advancements with their proficiency in AI. Moreover, about 30% of these organizations mandate reporting AI tool usage during performance evaluations. This significant shift showcases firms' eagerness for quantifiable outcomes from AI investments.

AI skills are starting to count toward pay and promotion on Wall Street, with nearly a quarter of financial firms tying raises, bonuses or promotions to employees' proficiency with the technology, a survey showed. Another 30% require employees to disclose their use of artificial intelligence tools in formal performance reviews, according to the survey by Selby Jennings, a financial-services recruitment firm. The findings point to a broader shift on Wall Street as firms seek tangible returns from their investment in the technology.

"Companies are no longer just seeing if their employees are using AI tools but are also monitoring its impact on output and contribution to business results," Dylan Gomez, executive director at Selby Jennings, told Reuters. "While currently there is no established formula on how much compensation is getting tied to AI usage and performance, we expect this to become more defined by next year," Gomez added. The survey found that 42% of respondents had introduced formal criteria to evaluate employees' AI skills, while 30% had created dedicated teams or roles focused on tracking whether their AI investments were delivering results.


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