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   Experts warn AI advances could lead to 200,000 banking jobs being cut this   
   year   
      
   Date:   
   Fri, 02 Jan 2026 12:35:00 +0000   
      
   Description:   
   European banking workers could be at risk of redundancy due to AI after years   
   of job cuts from store closures.   
      
   FULL STORY   
      
   AI-induced tech layoffs are already widely reported, but a new Morgan Stanley   
   report (via the Financial Times ) suggests banking could be the next industry   
   to be hit with widespread redundancies.    
      
   The report claims as many as 200,000 European banking jobs are forecast to be   
   at risk by 2030 as a result of AI, equating to around 10% of Europe's finance   
   workforce across 35 major banks.    
      
   Job cuts are mostly expected to hit back- and middle-office roles, including   
   risk management and compliance, where AI can deliver around 30% efficiency   
   gains.   
      
   Could AI replace bankers?    
      
   Banks have already been criticized for closing physical locations in recent   
   years to cut costs, with over 6,000 closures in the UK since 2015, but their   
   models are being challenged once more as artificial intelligence threatens   
   many of the remaining human workers.    
      
   Already, we've seen some of the effects of AI on the banking workforce, with   
   ABN Amro, Socit Gnrale and Goldman Sachs all warning of potential job cuts or   
   hiring freezes.    
      
   However, JPMorgan Chase CEO Jamie Dimon warned of the opposite  removing   
   junior roles could undermine future skills and training, therefore while such   
   a move could prove successful in the short term, it could lead to long-term   
   failures.    
      
   This could also lead to career ladder disruptions, where a lack of    
   entry-level roles make the sector inaccessible to newly-qualified workers.    
      
   Dimon even suggested that AI could hold the key to unlocking shorter working   
   weeks and better work-life balance for employees.    
      
   AI's effects have been largely delayed on the industry given its heavily   
   regulated nature, but with a growing number of compliant AI tools hitting the   
   shelves, the same effects we've seen on tech and retail workers could be   
   mirrored in banking next.    
      
   ======================================================================   
   Link to news story:   
   https://www.techradar.com/pro/experts-warn-ai-advances-could-lead-to-200-000-b   
   anking-jobs-being-cut-this-year   
      
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