Artificial Intelligence and the Labor Market in Ecuador: Analysis in the Financial Sector

Abstract

In this article, we analyze the impact of Artificial Intelligence (AI) on the labor market in the financial sector in Ecuador, using a quantitative and descriptive approach. Data collection was carried out through a survey applied to 261 employees of traditional banks, cooperatives, and insurance companies, in which we asked about four dimensions: AI Implementation, AI Adoption, Labor Transformation, and Skills Development. The results show that most employees view the implementation of AI positively in terms of productivity, although there are concerns about its impact on professional development, such as limited career advancement and task automation. The adoption of AI has been moderate, with a widespread willingness to work with these technologies, but there is also uncertainty about their effects on employee skills and autonomy. Globally, we observe that AI is transforming the financial sector, improving efficiency and service personalization. In Ecuador, although implementation has been successful in some cases, challenges persist, such as the need for workforce retraining and improvements in technological infrastructure. We conclude that AI is creating new jobs and driving a transformation in the sector. However, we recommend strengthening digital education and continuous training to ensure an equitable transition to an AI-driven future labor market.