Swiss banking giant UBS is making AI skills mandatory for its 2027 graduate and intern intake in Global Banking and Markets. Applicants must demonstrate how they use AI to improve efficiency, with interviews featuring direct questions on tool usage. This shift comes as Morgan Stanley analysts forecast over 200,000 European banking jobs could disappear within five years due to automation. While UBS is launching an 'AI Fluency Pathway' to train hires, industry figures like JPMorgan's Conor Hillery warn of 'never-skilling' risks if juniors bypass foundational training.
UBS mandatory AI skills requirement
- ▪UBS job interviews for the 2027 intake will include specific questions asking candidates to explain how they use AI tools for real tasks.
- ▪Banco Santander is seeking advanced AI users for some of its trainee programs, according to documents and reports.
- ▪UBS will require candidates applying for 2027 graduate and intern roles in its Global Banking and Markets division to demonstrate how they use AI to improve outcomes and efficiency.
- ▪The mandatory AI skills requirement at UBS will sit alongside traditional entry criteria, such as a strong academic degree, and will also apply to other newly posted roles.
Banking automation job displacement forecasts
- ▪JPMorgan Chase CEO Jamie Dimon stated that AI has already eliminated 30 to 40 percent of jobs in some divisions of the bank.
- ▪Morgan Stanley analysts forecast that more than 200,000 banking jobs in Europe, representing up to one-fifth of all positions, could disappear within five years due to AI automation.
- ▪UBS is testing the use of analyst avatars to deliver client presentations.
- ▪Banks are increasingly automating routine junior-level tasks, including financial analysis, research, and the assembly of client presentations.
AI Fluency Pathway training program
- ▪Successful UBS candidates will undergo an internal training program called the AI Fluency Pathway, which covers real banking use cases and responsible AI usage.
- ▪The AI Fluency Pathway program indicates that UBS does not expect finished AI expertise on day one, but rather seeks evidence of tool usage and a willingness to learn.
Never-skilling risk in junior development
- ▪A July study described a phenomenon called 'never-skilling,' where junior employees who rely on AI from the start fail to develop critical debugging and problem-solving instincts.
- ▪JPMorgan Chase Europe head Conor Hillery warned in December that junior bankers cannot afford to lose fundamental skills by relying too early on AI models.
Graduate apprenticeship model transformation
- ▪A Swiss study published in June found a decline in job advertisements aimed at career starters, reflecting a tightening labor market for junior roles.
- ▪Professional services firm EY extended its internship duration to a full year before offering permanent jobs to evaluate graduate value in the AI era.
- ▪The automation of routine tasks challenges the traditional banking apprenticeship model, which historically relied on years of manual modeling and presentation assembly to build professional judgment.
Debatable claims
- ▪UBS's mandatory AI requirement for graduates will undermine their fundamental banking skills
- ▪Professional judgment in banking can be effectively developed without traditional manual tasks
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