In the fast-paced world of financial services, a new generation is stepping in with high expectations for generative artificial intelligence (AI) in the workplace. Recently, BlueFlame AI conducted a specialised training session for one of our private equity clients, aimed at their newly hired summer intern class. The experience was eye-opening for us. Furthermore, it also provided a great lesson in the growing importance of AI in the industry and the expectations today’s young professionals have as they enter the workforce
AI & LLMs
The comprehensive training session covered vital areas such as AI and Large Language Models (LLMs), a review of the most popular use cases the industry has adopted, and hands-on practical training in prompt engineering. Moreover, our goal was to show this next generation the skills they’ll need to leverage these tools effectively. New roles could revolutionise alternative investment management processes like due diligence, market analysis, and portfolio management.
We also used this as an opportunity to survey the group about their experience of and expectations for AI use in the workplace – and it yielded some striking insights. A significant 50% of the interns reported using ChatGPT daily, with 83% utilising it at least weekly. Furthermore, these numbers suggest young professionals expect these tools to be available to them in their professional lives. In the same way they are available in their personal lives and set to become as commonplace as traditional software in the workplace. The interns’ expectations regarding AI’s impact on their work efficiency are even more telling. An overwhelming 94% believe these tools will enhance their productivity, indicating strong faith in the technology’s potential to streamline tasks and boost performance.
These high expectations have key implications for employers. A significant 89% of interns expect their employers to provide enterprise-grade AI/LLM access. This statistic is a wake-up call for companies that have yet to invest in AI technologies, highlighting the need to stay competitive not just in terms of products and services but also in workplace technology provision.
Talent Acquisition & Retention
Perhaps most important is AI’s potential impact on talent acquisition and retention. One-third (33%) of interns surveyed indicated they would reconsider their choice of employer if they didn’t offer access to enterprise-grade AI/LLM tools. A response that could throw a serious wrench into any Financial Services firm’s hiring plans.
The message is clear for businesses looking to stay ahead of the curve when it comes to supporting their employees. Investing in AI technologies and training is no longer optional. Firms must be ready to meet the expectations of the incoming workforce. They need to provide them with the best technology to maintain a competitive edge in an increasingly AI-driven business landscape. Companies that embrace AI and provide their employees with the tools and training to harness its power will likely see significant productivity, innovation, and talent retention advantages.
AI Revolution
Private and public investment firms stand to benefit greatly from this AI revolution. As this new generation brings its enthusiasm and expectations for technology tools into the workplace, firms that are prepared to meet these expectations will be better positioned to tap into fresh perspectives, drive innovation and reap significant efficiency and productivity gains. And if firms can take a proactive approach to training and commit to developing a forward-thinking, AI-enabled workforce, they will be able to enhance their teams’ capabilities and shape the future of work in the financial sector.
Generative AI and the workplace expectations it has created mark a new paradigm in the market. The next generation of professionals is not just ready for AI – they’re demanding it. Firms that recognize and act on this trend will be well-positioned to lead the pack when it comes to innovation, efficiency and talent acquisition.
Founded in 2023 BlueFlame AI is the only AI-native, purpose built, LLM-agnostic solution for Alternative Investment Managers.
- Artificial Intelligence in FinTech
