Wall Street expects to shed 200,000 jobs as AI erodes human roles: Bloomberg Intelligence
- Wall Street is expected to cut up to 200,000 jobs over the next three to five years due to AI adoption, according to Bloomberg Intelligence.
- Positions in back-office, middle-office, and operational departments are particularly vulnerable to AI, which can perform tasks more efficiently than humans.
- Nearly a quarter of banking executives anticipate job losses of 5% to 10%, while AI is projected to increase bank profits by 12% to 17% by 2027.
- The integration of AI may reshape roles in finance, requiring workers to develop new skills and focus on tasks that require human judgment and creativity.
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AI may cause massive layoffs on Wall Street in the near future
Wall Street, the global financial center, may cull nearly 200,000 jobs worldwide in the next three to five years thanks to the rise of artificial intelligence, Bloomberg Intelligence reports. This prediction is based on a survey of 93 CIOs and CTOs at major banks, including Citigroup and Goldman Sachs. “Back office, middle office and operations” roles will likely be the most vulnerable. AI could also boost bank profits by as much as 17% by 2027,…
Up to 200,000 Banking Positions May Disappear as AI Takes on More Jobs
Banks worldwide are expected to reduce staffing as artificial intelligence increasingly takes on duties that humans once handled. Key Facts: – Up to 200,000 jobs could be cut in three to five years, according to Bloomberg Intelligence (BI). – The average survey participant anticipates a net 3% decrease in personnel. – Back office, middle office, and operations roles are particularly vulnerable. – BI projects that by 2027, AI could boost banks’ c…
AI taking call centre agents’ jobs, source says
AI taking call centre agents’ jobs, source says Jamaican call centre agents are being warned to brace themselves for a wave of job cuts as artificial intelligence (AI) becomes the preferred tool for handling customer service in the business process outsourcing (BPO) sector. One call centre...
'Thousands of layoffs' in 2025: Here're the reason that may drive a wave of job losses across US?
As 2025 unfolds, layoffs continue across key industries, with technology and clerical roles most affected by automation and economic restructuring. Companies like Amazon, Boeing, and Spirit Airlines have announced job cuts, reflecting broader challenges in the labour market. While artificial intelligence displaces certain roles, it also transforms industries and creates new opportunities in tech and green energy sectors. Experts highlight the po…
World banks to lay off up to 200,000 workers due to artificial intelligence: what is knownWorld banks plan to cut about 200,000 jobs over 3-5 years due to the introduction of AI. According to forecasts, this could increase bank profits by up to 17% in 2027.
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