“任何涉及常规重复性任务的工作都有风险，但AI不会完全取代这些岗位，而是会导致劳动力转型。”The report indicated that in the next 3 to 5 years, due to AI 'encroaching' on human jobs, Global Banks will lay off up to 200,000 people, with backend, mid-office, and Operation positions facing the highest risks. At the same time, 80% of respondents expect that generative AI will increase productivity and income by at least 5% during this period.
The most concerning issue for workers has arrived, as AI gradually replaces human jobs, the number of unemployed on Wall Street may exceed 200,000.
On January 9, according to the latest report released by Bloomberg Industry Research, in the next 3 to 5 years, due to AI “encroaching” on human jobs, Global Banks may cut up to 200,000 jobs. Analysts indicate that among these, back-office, middle-office, and operation positions face the greatest risks:
“Any jobs involving routine repetitive tasks are at risk, but AI will not completely replace these positions; instead, it will lead to a transformation of the workforce.”
The report also shows that the Chief Information Officers and Technology Officers surveyed expect an average reduction of 3% of employees. Among the 93 respondents, nearly a quarter predicted a significant overall decrease in the workforce by 5% to 10%.
Despite this, many banks emphasize that this transition will lead to jobs being transformed by technology, rather than being completely replaced. Teresa Heitsenrether, who is responsible for AI work at JPMorgan, stated last November that the generative AI currently adopted by the bank has increased employment opportunities. JPMorgan CEO Jamie Dimon more optimistically predicts:
“AI has the potential to significantly improve the quality of life for workers. In the future, people may only need to work three and a half days a week.”
Research results also indicate that while AI leads to job cuts, it will also significantly enhance the profitability of banks. Bloomberg Industry Research predicts that by 2027, as AI drives productivity improvement, banks' pre-tax profits could be 12% to 17% higher than originally estimated, with total profits increasing by as much as 180 billion dollars. 80% of respondents expect that in the next 3 to 5 years, generative AI will lead to at least a 5% increase in productivity and revenue.
In recent years, major Banks have increased their AI investment efforts in order to further enhance productivity and reduce costs. A report from Citibank in June of last year stated that among all Industries, AI may have the greatest impact on employment in the Banking sector, with about 54% of Banking jobs having a high potential for automation.
