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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Total News Sources0
Leaning Left2Leaning Right6Center3Last UpdatedBias Distribution55% Right
Bias Distribution
- 55% of the sources lean Right
55% Right
L 18%
C 27%
R 55%
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