From 2019 to 2022, the jobs created by financial services in New York increased by 0.9%, whereas in markets like Dallas and Miami, the employment of financial services surged 14% and 12.5%, respectively, according to JLL’srecent 2023 Banking and Finance Outlook.
The report predicts that the banks and financial services companies are set to invest an additional $31 billion in artificial intelligence (AI) worldwide by 2025. With firms prioritizing digitalization to drive efficiency and enhance customer and employee experiences. Software developers are now one of the most in-demand roles in the industry, and many financial institutions are restructuring their real estate portfolios to support their future state operations, expanding in key markets with diverse tech talent pools.
The report also highlights the growing importance of technology investments in the industry, as financial services firms are adapting by offering leading amenities and adapting to new hybrid work models to maximize space efficiency and manage operating costs.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.