The war for AI talent has a new entrant — fund managers
One of the world's largest investors, Acadian Asset Management, is increasingly focused on hiring software engineers rather than talent with more traditional investing skills.
Tech giants poaching AI talent from each other and AI-native companies are also fighting with fund managers as they are increasingly looking for AI-skilled workers for their investment teams.
Global fund manager Acadian Asset Management, which has USD151.1 billion ($232 billion) in assets under management, has a fully automated investment process and has shifted its hiring focus to a broader spectrum of skills.
However, this means it is now competing with tech giants for talent.
Sydney-based portfolio manager, research, Zhe Chen told Capital Brief the fund manager previously looked for new hires with economics, statistics and engineering backgrounds but this had now broadened to include AI and machine learning experts.
“When you're hiring these people, what ends up happening is you are actually also competing with the Googles, the Metas, and the Amazons of the world. And so, there is increased competition for talent in the space as well,” he said.
