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AI Will Demolish 200,000 Jobs According to Expert
Morgan Stanley predicts AI-driven automation will cut 200,000 EU banking jobs by 2030, mainly in central services such as risk management and compliance.
- By 2030, Morgan Stanley forecasts 200,000 banking jobs in the European Union will be eliminated, the Financial Times reported.
- Analysis of 35 lenders found cuts are most likely in banks' central services, including back- and middle-office, risk and compliance, driven by AI-driven automation.
- Goldman Sachs projects 300 million jobs worldwide will be lost or diminished from AI efficiency and told Goldman employees to expect cuts next year.
- Analysts warn totals could run nearer to 1 million if Morgan Stanley's pattern holds, though experts note AI-driven job creation will offset some losses.
- The forecast's limited scope covers a single industry and region, making the figure striking but not necessarily representative, and observers say debate will remain unsettled until substantial cuts begin.
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One of the biggest losers from the rise of artificial intelligence may be the banker.
·Budapest, Hungary
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AI Will Demolish 200,000 Jobs According to Expert
Morgan Stanley believes that artificial intelligence (AI) will kill 200,000 jobs in Europe by 2030. The figure is staggering because it only includes one group of people in a single industry in a single region. It also demonstrates how AI may be an extraordinary trigger for worldwide unemployment. 24/7 Wall St. Key Points Morgan Stanley forecasts that artificial intelligence will eliminate 200,000 banking jobs in the EU by 2030. Other forecas…
·New York, United States
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Total News Sources25
Leaning Left3Leaning Right2Center2Last UpdatedBias Distribution43% Left
Bias Distribution
- 43% of the sources lean Left
43% Left
L 43%
C 29%
R 28%
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