Posted 4/11/2024, 5:33:00 PM
Banks Turn to AI, Potentially Cutting Junior Hiring Drastically As Machines Take On More Work
- Banks considering cutting junior analyst hiring by up to two-thirds as they rely more on AI
- Sources say banks already testing AI software under code names like "Socrates"
- Some finance executives publicly hinting at future AI-driven shifts in workplace
- Goldman Sachs estimates 300 million workers could be impacted by AI
- Accenture forecasts AI could replace or supplement 75% of banking sector working hours