The Evolution of AI and Its Impact on Finance
AI isn’t new. The concept and dream of beings and tools with incredible intelligence that will empower and ease our day-to-day lives have captured our imagination for thousands of years. And yet when, roughly two years ago, Open AI released ChatGPT, AI was thrust into the public consciousness perhaps like never before. It felt like a seminal moment. The promise and warnings of what was to come have promoted huge discourse with people declaring it to be the next step in our evolutionary journey to perhaps the end of our time as the dominant species. All fairly heady stuff and yet I still struggle to get Siri to play Let it Go on the morning school run! However, it’s a sector that has promised to transform entire industries and has seen a fairly compelling arms race follow in its footsteps.
The AI Arms Race and FinTech Staffing
At the beginning of 2022, Nvidia, the American semiconductor and technology company, had a share price in the region of $30 per share…three years later it sits around $130 with a 52-week high of $153. Why? They bet big on AI and the generative chat boom exploded demands for their GPUs as cloud providers raced to go all in on AI. Similarly, OpenAI, already the beneficiary of a billion-dollar investment from Microsoft five years ago, saw their “investment attractiveness” skyrocket in the last two years as companies, predominantly Microsoft again, sought to embed the powers of ChatGPT into their existing products. And the arms race continues at a government level with UK Prime Minister Keir Starmer recently pledging £14 billion towards various UK projects with the expectation of over 13,000 new jobs being created and in the USA, the newly re-elected Donald Trump announced Stargate, a joint venture with several key players including OpenAI, that could be worth up to $500 billion.
For fintech staffing, this AI boom has led to a surge in demand for skilled professionals who can develop, implement, and optimize AI-driven solutions. FinTech recruitment agencies have seen an influx of roles requiring AI expertise, as firms seek talent capable of navigating this technological shift.
Trump 2.0 and the Future of AI Development
As mentioned in a previous blog post, the second coming of President Trump has been heralded as a boon by many market enthusiasts and technology lovers. He is widely seen as pro-business and has been historically keen for further deregulation of financial markets, which could mean the speed of investment in and advancement of, AI could increase, and there will be less red tape and federal oversight. The fact that Big Tech was such a visible part of the campaign and has rapidly echoed some of his actions since taking power is no coincidence. Some of the smartest minds have been very quick to step in line or, as some observers have wryly commented, bend the knee. Whatever your political leanings, there’s no doubt Trump 2.0 and his tech-bros are surging ahead in this space. Trump’s mindset of ”America First” and the fealty shown by Big Tech have drawn comparisons to the Cold War and the Space Race. So far, America has undoubtedly been leading the charge and has enjoyed the lion’s share of the major AI headlines over the past few years.
For fintech staffing in New York, this could mean an increase in job opportunities within the AI and FinTech space. With the US government pushing for advancements in AI, FinTech staffing firms will need to stay ahead of the curve, identifying candidates with the necessary skills to meet the growing demand.
China's DeepSeek and Global Competition
Yet very recently, China’s DeepSeek produced its own open-source LLM (Large Language Model) and declared it did so for a fraction of the cost compared to OpenAI. This announcement alone was enough to wipe nearly $600 billion off Nvidia’s share price as investors began to question the exorbitant investment needed to build AI models. If this company could do it for as little as $6 million, then why were companies investing 10x that? Panic ensued, doubts were raised…and then, 24 hours later, panic subsided, confidence returned, and share prices rebounded. Doubts were inevitably raised over DeepSeek’s claims and ethical modus operandi, and even if their claims were true, investors realised the sector is still expanding rapidly and shows no sign of abating. As an outsider, it felt like those 24-36 hours encapsulated everything about the AI arms race: excitement, doubt, panic, scepticism, hope…and the potential for a big payday. Don’t go changing Wall Street!
For financial technology staffing firms, the expansion of AI capabilities globally means businesses will be looking for top talent who can work with various AI models. Companies are increasingly turning to specialized fintech staffing agencies to source the best professionals in this rapidly evolving landscape.
The Future of AI in Finance
So it looks like AI isn’t going anywhere soon, but what does this mean for the finance and financial technology sector? When any nascent technology emerges, there is always a clamour as to the potential improvements it brings. For finance, it could be better regulatory compliance, better security for blockchain-based systems and decentralised finance, behavioural insights for better trading and alpha opportunities. The truth is that no one knows the full extent of the possibilities and the dangers, but what is most definitely true is that we are at the very beginning of what looks set to be a fascinating journey over the next few years.
FinTech staffing firms are already seeing a rapid increase in demand for AI-skilled professionals who can develop automation tools for financial operations, risk management, and customer experience improvements. As businesses integrate AI-driven analytics and decision-making models, the need for AI talent in financial services will continue to surge. Companies that partner with FinTech staffing agencies will gain access to highly skilled professionals who can drive efficiency and innovation in an increasingly AI-powered financial ecosystem.
Whilst we eagerly await what is to come, it’s essential that we prepare for it at the same time…somewhat difficult when the future is so opaque. Even with the current incarnations of AI and generative AI, there are still efficiencies that can be found by utilising these tools. Busy and administrative work can already be streamlined with existing models, and savvy operators will be looking to hire in these areas sooner rather than later. Over the last 12 months, the number of professionals with AI as a skill on LinkedIn has increased by 92%, and numerous financial institutions and financial technology companies are posting double-digit head-count growth in jobs requiring this skill…in other words, the race has already begun.
Preparing for an AI-Driven Workforce
The financial industry is already seeing AI integration in key operational areas such as fraud detection, risk assessment, and automated trading. These advancements require specialized professionals who understand both financial markets and AI-driven analytics. The ability to adapt to emerging technologies will be a differentiating factor for businesses aiming to remain competitive in the digital economy.
Another major impact of AI on financial recruitment is the shift in skillset demands. Traditional finance roles are evolving, requiring candidates to have expertise in data science, machine learning, and programming. As fintech staffing agencies work to bridge this gap, professionals looking to enter or advance in the sector must proactively upskill to align with industry needs.
The Ethical Considerations of AI in Financial Technology
As AI becomes more embedded in financial services, ethical concerns surrounding data privacy, algorithmic biases, and regulatory compliance are coming to the forefront. Firms leveraging AI for decision-making must ensure transparency and accountability to avoid unintended consequences. Compliance teams and legal professionals with expertise in AI ethics will be in high demand, creating new opportunities within the financial recruitment sector.
Adapting to the AI Revolution
The rise of AI is reshaping financial technology at an unprecedented rate, driving innovation and transforming job markets. Companies that proactively adapt to AI advancements will gain a competitive edge, while fintech recruitment agencies play a vital role in bridging the talent gap. The next few years will be crucial in shaping how AI is integrated into financial services, making this an exciting time for both employers and job seekers in the industry.
At Harrington Starr, we are committed to helping businesses in New York and across America find top-tier AI and FinTech professionals. As a leading FinTech staffing agency, we understand the challenges of sourcing talent in a fast-moving, AI-powered world.
The next challenge? Ensuring AI is developed responsibly, ethically, and in a way that benefits all of us—not just the companies and countries leading the charge.
