Bank employees, rejoice: 60% of finance CEOs don't see head count shrinking because of AI
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- Of the 240 financial CEOs EY surveyed, only 28% see AI reducing head count in 2026.
- Nearly half of the CEOs said AI is the most critical factor in their company's ability to adapt.
- Some Wall Street leaders have said AI will eliminate some roles, but ultimately increase head count.
Banks' analyst classes probably won't swap fresh-faced college grads for bots — at least not this year.
Some 60% of the 240 financial services CEOs that EY surveyed for its Quarterly CEO Outlook Survey said they think investing in AI will maintain or even increase their current head count in 2026. Only 28% of those surveyed predicted head count would drop this year.
Leaders at some of the biggest banks, including JPMorgan and Goldman Sachs, have said that they're resisting hiring growth where it makes sense to prioritize efficiency. They, along with some other bulge-bracket leads, have predicted that AI could grow head count in the long run, though. Still, some roles are becoming obsolete: Citi CEO Jane Fraser said in a recent internal memo that some jobs "will no longer be required" as AI advances.
For their part, the financial services CEOs that EY surveyed are similarly bullish about AI's capacity to transform the workplace, and nearly half see AI and digital investment as the most important factor in their companies' ability to thrive and adapt this year.
Around a quarter said their AI initiatives have significantly beaten expectations, and 57% said they've shown results faster than expected. Just more than half said they expect the biggest transformations to come from generative AI.
When it comes to hiring for AI talent — itself a highly competitive market — 87% of CEOs in EY's survey are optimistic about their ability to attract and keep talent in 2026. The question of returns on the AI investment, for talent and in general, also seems top of mind for the financial services leaders. Seventy-six percent of boards in the survey said they'll review transformation ROI metrics as often as financial results.
Firms of all sizes are being asked to justify their AI spends, as analysts and investors begin to wonder whether the sometimes billion-dollar bets will show up on balance sheets.