With the rapid development of artificial intelligence technology, the global banking industry is undergoing an unprecedented change. According to the latest report, the banking industry is expected to lay off up to 200,000 employees in the next three to five years. This figure not only reflects the impact of artificial intelligence on traditional artificial positions, but also indicates that the banking industry will usher in a profound transformation.
The report pointed out that the interviewed bank chief information officers and technology officials generally believe that the introduction of artificial intelligence will completely change the bank's operating model. Especially the functions of the backend and middle-end will be affected to the greatest extent. These positions often involve routine, repetitive tasks, and AI performs well in these areas and can significantly improve efficiency. The survey shows that the average net layoff rate is expected to reach 3%, while nearly a quarter of the 93 respondents believe that the layoffs may range between 5% and 10%.
Tomasz Noetzel, a senior BI analyst, said that as intelligent robots gradually take over customer management functions, the way customer service will undergo fundamental changes. While AI will not completely replace these positions, it will drive the transformation of the workforce and require employees to adapt to the work environment of new technologies. This transformation involves not only skill improvement, but also redefinition of the way of working.
The report also emphasized that artificial intelligence will bring far-reaching economic benefits to the banking industry. It is expected that by 2027, banks' net profit before tax will be 12% to 17% higher than the scenario where AI is not introduced, and total profits may increase by as much as $180 billion. In addition, about 80% of respondents believe that generative artificial intelligence will drive productivity and revenue to increase by at least 5% over the next three to five years. These data show that artificial intelligence is not only a tool to reduce costs, but also a strategic asset to improve profitability.
Faced with this trend, major banks around the world have begun to actively respond. Financial institutions such as Citigroup, JPMorgan Chase and Goldman Sachs have formulated strategies to adapt to the changes brought about by artificial intelligence. Not only do these banks invest in artificial intelligence technology, they also promote employee skills improvement and job adjustment internally to ensure they maintain a leading position in future competition.
Overall, artificial intelligence is reshaping the future of banking. Although layoffs and job transformation are inevitable, artificial intelligence has also brought huge opportunities to the banking industry. By rationally utilizing artificial intelligence technology, banks can not only improve efficiency, but also gain an advantage in fierce market competition. In the future, the success of the banking industry will depend on how to balance technological change with the optimization of human resources.