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A Bloomberg Intelligence report published on Thursday, based on surveys of chief information and technology officers, reveals an expected net reduction of 3 per cent in the workforce on average.
Any jobs involving routine, repetitive tasks are at risk, says Tomasz Noetzel, senior analyst at Bloomberg Intelligence.
Global banks are projected to cut up to 200,000 jobs over the next three to five years as artificial intelligence (AI) increasingly takes over tasks currently performed by humans, according to Bloomberg Intelligence (BI).
A report published Thursday, based on surveys of chief information and technology officers, revealed an expected net reduction of 3 per cent in the workforce on average.
Tomasz Noetzel, BI’s senior analyst and author of the report, highlighted that roles in the back office, middle office, and operations are most at risk. Customer services may also undergo changes as AI-driven bots handle client interactions, and “know-your-customer” responsibilities could be particularly affected.
“Any jobs involving routine, repetitive tasks are at risk,” Noetzel noted. “But AI will not eliminate them fully, rather it will lead to workforce transformation.”
