AI in Banking: Hype vs Reality
Update: 2025-12-21
Description
Despite AI-driven layoffs being minimal, Wall Street banks like JPMorgan, Goldman Sachs, and Morgan Stanley have been cutting jobs, often blaming AI. However, experts argue that AI is a convenient scapegoat for bad hiring strategies and policy shifts. Banking and consulting roles remain resilient against automation due to their demand for error-free critical thinking. Banks plan to increase tech hires, while productivity improves with AI. Accounting and marketing face greater threats from automation. Banks are currently freezing hiring growth, allowing natural attrition to fill gaps without adding payroll, leading to more job mobility.
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