As a result of a swift adoption of Artificial Intelligence in finance sector, various financial tasks are being automated — including risk management, algorithmic trading, operations and wealth management. However, we still notice a rise in need of more highly skilled individuals in data science and application of AI in different aspects of finance starting from designing of products, trading decisions making tools, investment recommendations and risk management, to name a few.

While some routine tasks have already become automated, either using minibots, machine learning and adaptive intelligence, others will pretty soon catch up — as a matter of fact this will just clear the way for finance professionals to implement their expertise on more judgment-intensive activities. Nonetheless, newer jobs will emerge while some other existing ones will transform. According to World Economic forum for every job lost through automation, almost three new jobs will be created. Machines will continue to need humans. Only when machines are accompanied with human touch, we will fathom the societal benefits of technology.

Worth mentioning that both Stanford University and Georgetown University Business schools have proposed to offer Fintech in their MBA programmes, in hope that this will give their students a better insight into what an education in this field in financial sector holds. Also, for the first time, Wrexham Glyndwr University, based in Wales has disclosed their launch on their first undergraduate degree program in fintech, being the first one in UK.

Some branches of the financial sector which will experience evident growth within a time frame of 20 years:

Financial Manager

A financial manager’s duties could mainly consist of overseeing investment decisions,keeping track of the financial market, creating yearly budgets, and making sure that the organization is operating within the law in regard to financial regulations while also making sure the financial department they run is operated correctly and efficiently. Within a 2-decade period, this position is expected to grow by 19% according to Bureau of Labor Statistics (BLS). That is a significant higher number than the 7% for all other occupations, and this will occur due to growing economy and increasing globalization.

A financial manager’s duties could mainly consist of overseeing investment decisions,keeping track of the financial market, creating yearly budgets, and making sure that the organization is operating within the law in regard to financial regulations while also making sure the financial department they run is operated correctly and efficiently. Within a 2-decade period, this position is expected to grow by 19% according to Bureau of Labor Statistics (BLS). That is a significant higher number than the 7% for all other occupations, and this will occur due to growing economy and increasing globalization. Personal Financial Advisor

Personal financial advisors usually work with individuals by providing them with advice and guidance on how to manage their finances. Their assistance ranges from developing an investment strategy, setting up different types of savings accounts and managing clients’ portfolios. Similarly, BLS suggested that positions in this field are expected to increase by 14% in 20 years mainly due to the aging baby boomer population who are nearing retirement and may need more financial guidance.

Personal financial advisors usually work with individuals by providing them with advice and guidance on how to manage their finances. Their assistance ranges from developing an investment strategy, setting up different types of savings accounts and managing clients’ portfolios. Similarly, BLS suggested that positions in this field are expected to increase by 14% in 20 years mainly due to the aging baby boomer population who are nearing retirement and may need more financial guidance. Management Analyst

Different organizations and businesses, including those in the financial industry usually employ Management Analysts to help them become more productive. Regardless of the type of business are engaged with, management analysts’ job is to cut down costs and manage their finances efficiently while growing their revenue. According to BLS’s prediction, jobs in this industry are expected to grow by 12% mainly due to an universally increasing competitive market which requires business, like never before, to assure they are being efficient.

Different organizations and businesses, including those in the financial industry usually employ Management Analysts to help them become more productive. Regardless of the type of business are engaged with, management analysts’ job is to cut down costs and manage their finances efficiently while growing their revenue. According to BLS’s prediction, jobs in this industry are expected to grow by 12% mainly due to an universally increasing competitive market which requires business, like never before, to assure they are being efficient. Accountant/Auditor

As the economy continues to grow,this career field is anticipated to grow by 10% as well up until 2026. Accountants and auditors arrange and prepare a business or organization’s financial documents and records while ensuring that they run according to applicable state laws. Different types of accountants and auditors work for different sectors. Government accountants review finances of governmental agencies whereas external auditors are independent and work for various agencies to ensure an organization is managing and reporting their funds correctly

As the economy continues to grow,this career field is anticipated to grow by 10% as well up until 2026. Accountants and auditors arrange and prepare a business or organization’s financial documents and records while ensuring that they run according to applicable state laws. Different types of accountants and auditors work for different sectors. Government accountants review finances of governmental agencies whereas external auditors are independent and work for various agencies to ensure an organization is managing and reporting their funds correctly Loan Officer

A loan officer’s duty is to determine whether an individual or a company qualifies to take out a loan by analyzing their financial status. As there are different types of loans: customer loan, commercial loans and mortgage loans — a loan officer would need to identify potential clients by placing calls and providing them all the necessary information. As a result, this job position is expected to grown by 11%.

A loan officer’s duty is to determine whether an individual or a company qualifies to take out a loan by analyzing their financial status. As there are different types of loans: customer loan, commercial loans and mortgage loans — a loan officer would need to identify potential clients by placing calls and providing them all the necessary information. As a result, this job position is expected to grown by 11%. Cybersecurity specialists

IBM’s X-Force research team revealed the financial services industry was attacked more than any other industry in 2016–65% more than the average organisation across all industries. Additionally, they reported that “half a billion records of personally identifiable information such as names, emails, credit card numbers and passwords were leaked in 2013”. For this reason, the US Bureau Of Labor Statistics has predicted there will be a huge surge in these roles, forecasting a 37% growth in jobs by 2022. There’s no reason to expect that things will be different in the UK.

IBM’s X-Force research team revealed the financial services industry was attacked more than any other industry in 2016–65% more than the average organisation across all industries. Additionally, they reported that “half a billion records of personally identifiable information such as names, emails, credit card numbers and passwords were leaked in 2013”. For this reason, the US Bureau Of Labor Statistics has predicted there will be a huge surge in these roles, forecasting a 37% growth in jobs by 2022. There’s no reason to expect that things will be different in the UK. Data specialists

In a report in partnership with the World Economic Forum, Deloitte emphasized the ‘strategic’ role of data that affect the financial services industry: “Emerging innovations allow financial institutions to access new data sets, such as social data, that enable new ways of understanding customers and markets.”

Clients are gradually demanding financial services firms to offer them a more relevant and individual service tailored to their evolving needs which will solely be achievable thanks to data. So Data Scientist, Chief Data Officer, Financial Data Analyst, Data Analytics Manager will increasingly be in demand to sift through information that can give greater insights into their markets.

In a report in partnership with the World Economic Forum, Deloitte emphasized the ‘strategic’ role of data that affect the financial services industry: “Emerging innovations allow financial institutions to access new data sets, such as social data, that enable new ways of understanding customers and markets.” Clients are gradually demanding financial services firms to offer them a more relevant and individual service tailored to their evolving needs which will solely be achievable thanks to data. So Data Scientist, Chief Data Officer, Financial Data Analyst, Data Analytics Manager will increasingly be in demand to sift through information that can give greater insights into their markets. Innovation officer

Amid all the changes happening in the financial services industry and increased competition, financial services firms acknowledge that innovation is crucial. A recent study revealed that 61% of CEOs believe innovation is a priority, while 75% of executives are concerned with not having enough ideas. This is why the position of ‘Chief Innovation Officer’ is likely to become a key C-suite role, just like the Chief Technology Officer over the past decade. A sector’s future highly relies on keeping up with the demand for relevant and new services products.

Although most routine tasks will be automated, human input and empathy will continue to be in need of. Thus, many job positions in finance sector will perpetually grow within the next 20 years.