Banks Swap Briefcases for Codebooks: Big Banks Teach Workers to Code

Major banks such as JPMorgan Chase, Goldman Sachs, and Citigroup are revamping their workforce by teaching investment bankers to code. This shift is driven by the increasing use of artificial intelligence (AI) and online lending platforms in the industry.

The traditional role of traders yelling into telephones to facilitate deals is becoming obsolete as professionals take on skills in programming. They now build and monitor algorithms that watch bank positions, create price quotes for clients, match buyers and sellers, and alert them to risks.

JPMorgan Chase has taken a notable step by making Python programming courses mandatory for all 300 analysts joining the asset management division this year. About one third of analysts and associates in the company's corporate and investment bank have also received the training.