US EditionPublished • loading... • Updated
Morgan Stanley Forecasts AI Could Cut 200,000 European Banking Jobs by 2030
Morgan Stanley projects a 10% reduction in EU banking jobs by 2030, mainly in central services due to AI-driven efficiency and automation improvements.
- Morgan Stanley analysis suggests that more than 200,000 European banking jobs could disappear by 2030 due to the adoption of artificial intelligence and the closure of physical branches.
- The cuts are expected to primarily impact back-office operations, risk management, and compliance roles, where algorithms are believed to be more efficient than humans.
- While some banks, such as Goldman Sachs and ABN Amro, are already implementing AI and cutting jobs, a JPMorgan Chase executive warns that if junior bankers do not learn fundamentals, it could harm the industry in the long run.
Insights by Ground AI
42 Articles
42 Articles
One of the biggest losers from the rise of artificial intelligence may be the banker.
·Budapest, Hungary
Read Full ArticleCoverage Details
Total News Sources42
Leaning Left3Leaning Right3Center2Last UpdatedBias Distribution38% Left, 37% Right
Bias Distribution
- 38% of the sources lean Left, 37% of the sources lean Right
38% Left
L 38%
C 25%
R 37%
Factuality
To view factuality data please Upgrade to Premium
