The banking industry is hiring a Chief AI Officer with an annual salary of up to 3.5 million US dollars, but the longevity of this position may be limited.

Major banks from Sydney to London are actively recruiting Chief AI Officers, a position that barely existed a year ago. However, those who hold this position believe that the lifespan of the role may not be long-lasting. HSBC Holdings, Commonwealth Bank of Australia, and Lloyds Banking Group have all appointed AI executives in the past three months. The annual salary for such positions can reach close to $3.5 million, and the required skills are relatively scarce, leading businesses to often poach talent from competitors. The movement of high-level talent and the expansion of job functions have also sparked discussions about the limited lifespan of this position. The logic behind this is that as bank employees become more familiar with using AI agents and software in their daily work, there may no longer be a need for dedicated AI executives in the next few years. "Any Chief AI Officer should hold the assumption that they shouldn't have this role in the future," said David Hardoon. He left Standard Chartered Bank in March, where he served as Global AI Lead for less than a year. "Do we have a Chief Excel Officer? Do we have a Chief Email Officer? No," he added.