AI and cloud tech the new "heart" of BNP Paribas
In 2023, major investment banks are all in on technology (tech infrastructure, at least) and BNP Paribas is no exception. The Paris based bank released its Q3 results today and in the accompanying presentation, it said technology is "at the heart" of its strategy titled GTS ('Growth technology sustainability' 🌱) for 2025. Two key areas within that strategy are cloud infrastructure and AI experimentation.
Today, just 43% of BNP's applications are in the cloud. The goal within the next two years is to upgrade that to 60%, with upwards of 15,000 employees cloud certified. In AI, the bank had a target of doubling its number of AI implementations and looks well on its way to achieving that. BNP has over 700 AI use cases right now, and is working on around 300 more, including 26 leveraging generative AI. It also claims to be the number one European bank (sixth globally) for hiring AI talent.
Tech hiring has been stagnant in banking on average, but BNP seems to be looking more pert. Of its 4,523 current openings, 779 are in technology. 195 of those mention cloud, 335 AI. Pay for BNP's tech people might have risen too; on Levels.fyi, average software engineering compensation in the US and Europe has gone up from $81.6k in 2022 to $88.2k in 2023.
Engineers seem to enjoy working at BNP more than most. On Glassdoor, the bank has an average rating of 3.8 stars, but technologists rate it 4.1. For remote first technologists, it even bucks the current industry standard of 3+ days in office by asking its people to come in only 50% of the time. However, it's becoming increasingly strict in monitoring how often its staff are at their office desks.
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