Top Banks Rush to Fill Chief AI Roles as Talent Jumps to Rivals

Banks from Sydney to London are racing to fill the senior role of chief AI officer, a job that barely existed a year ago. Those in the position, however, say it might not be around for long.

Leaders at HSBC Holdings Plc, Commonwealth Bank of Australia and Lloyds Banking Group Plc started in top artificial intelligence roles over the past three months. The jobs can command salaries of nearly $3.5 million per year and come with relatively hard to find skill sets, forcing firms to often lure bankers from their competitors.

The movement of senior talent and the scope ...