The Ai-Lu Adoption Endangers 200,000 Jobs in the European Banking Sector. What Jobs Will Be the Most Affected and How Much Banks Can Be Saved - hotnews.ro

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Over 200,000 jobs in the European banking sector have been put at risk for the next five years, as banks increasingly adopt artificial intelligence and close a growing number of...

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Morgan Stanley analysts predict that artificial intelligence will mainly endanger jobs in back and middle offices.

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According to an analysis by Morgan Stanley, AI could eliminate 10 percent of jobs in the European banking sector. Service areas, risk management, and compliance are primarily affected. Banks hope this will allow them to catch up with their US competitors.

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The world of banks as we know it may fundamentally change, 200 thousand jobs are at risk - All this indirectly affects hundreds of thousands of families and businesses.

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More than 200,000 jobs will be lost in the European banking sector in the coming years due to the rise of artificial intelligence. This is according to research by the American investment bank Morgan Stanley, reports the Financial Times. The job cuts will affect more than ten percent of the current workforce in the sector. A total of approximately 2.1 million people currently work at European banks. Artificial intelligence is increasingly taking…