Under 9% say new grads are ready for AI: Quant finance survey

Fewer than 9% of quantitative-finance professionals believe new graduates are well-equipped for AI and machine-learning work, according to a CQF Institute survey released at its Annual Quant Insights Conference.

The institute says 83% of respondents already deploy or build AI tools; machine learning (31%) and generative AI (31%) lead usage, with ChatGPT (31%) ahead of Microsoft/GitHub Copilot (17%) and Gemini/Bard (15%).

More than 54% use these tools daily, chiefly for coding/debugging (30%), sentiment research (21%) and report writing (20%).

Despite the seemingly productive involvement, obstacles persist.

Top barriers cited were explainability (41%), costs (17%) and regulation (16%).

Only 14% of firms offer AI training; 25% have strategies and 24% are drafting them, and 23% plan 25% or more AI-budget increases over the next year, the institute said.

The CQF Institute adds that only 14% of firms offer formal AI training; 25% have strategies and 24% are developing them. 23% plan 25%+ AI-budget increases over the next year.

“Our future professionals must hit the ground running and know when an AI tool truly adds value,” said Randeep Gug, managing director, CQF Institute.