Wall Street Expected to Shed 200,000 Jobs

AI Could Replace 200,000 Jobs on Wall Street, According to a New Report. These Are the Jobs Most at Risk.
A new report shows that company executives plan to cut 3% of their workforce in the next three to five years because of AI.
Wall Street Expected to Shed 200,000 Jobs as AI Erodes Roles
Global banks are expected to cut as many as 200,000 jobs in the next three to five years as artificial intelligence encroaches on tasks currently carried out by human workers, according to Bloomberg Intelligence.
200,000 Wall Street Jobs May Be Slashed By Artificial Intelligence
The financial services sector is facing disruption as AI technologies threaten to displace a considerable share of its workforce.
Wall Street job losses may top 200K as AI replaces roles
But AI will not eliminate them fully, rather it will lead to workforce transformation.” Nearly a quarter of the 93 respondents predict a steeper decline of between 5% and 10% of total headcount. The peer group covered by BI includes Citigroup,
200,000 people to lose jobs? Back office, operational roles at Wall Street at risk as AI takes over
The rise of artificial intelligence is anticipated to eliminate 200,000 jobs at Wall Street banks in the coming years, particularly in back office positions.
AI to replace 200,000 bank jobs globally in the next few years
Artificial intelligence is coming for the banks, and it’s not stopping at the doors. Over the next three to five years, up to 200,000 jobs in the banking sector could disappear as AI systems take over tasks currently done by humans,
How Digital, Data And AI Are Transforming Customer Experience At Citi
Citi is already seeing results from its investments in AI. Their executives believe that GenAI will transform many industries over the next three years.
The Taipei Times3d
Citi Forecasts Strong Taiwan Economy in 2025, AI as Key Driver
Chen noted that Taiwanese companies should see improving profitability in 2H24 on the back of strong AI demand and the arrival of high season. She expects an accelerated growth momentum for Taiwan ...
Law24d
As Profits Rise, Law Firms Likely to Make More AI Investments in 2025
Looking ahead to 2025 and beyond, law firms will continue to work through the hype and keep up with the rapid developments of gen AI technology, confirms a new Citi ... to roll out gen AI in ...
business-reporter.co.uk1mon
Citigroup rolls out artificial intelligence tools for employees in eight countries
NEW YORK (Reuters) - Citigroup began rolling out on Wednesday new artificial intelligence tools to be used by employees in eight countries, senior executives said. Around 140,000 employees ...