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AI Forecasted to Trigger Up to 200,000 Job Cuts in Global Banking Over Next 3-5 Years
2025-01-09
A recent report reveals that the global banking sector is poised to witness up to 200,000 job losses over the next three to five years, attributed to the rapid advancement of AI technology. According to surveyed Chief Information and Technology Officers, an average net layoff rate of 3% is anticipated. This shift is primarily fueled by the pervasive adoption of AI in data analysis, risk management, and other critical areas, significantly impacting back-office, middle-office, and operational departments.
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