Banks lay groundwork for mass workforce cuts as AI takes hold
Source: The Business Times
Published on: 2026-06-07 22:01
[LONDON] In the the hope he'll land a job in finance, Andre Bonnick spends hours rehearsing what he's going to say. He's using key words from job listings, making eye contact - following advice he's gotten from recruiters. But Bonnick, a student at Warwick University, isn't preparing to talk to a human hiring manager. He's tackling initial screening rounds done by artificial intelligence-powered software. With more firms adopting AI, students gunning for a career in banking and finance are preparing to be up against such technology at first interaction. If they get in the door, they're then faced with the question of whether the jobs will be available to humans in the next few years. Most executives are in agreement: Jobs will be cut as AI is implemented. JPMorgan Chase & Co CEO Jamie Dimon said in December that the technology "will eliminate jobs". Jane Fraser, Citigroup's CEO, said ...
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