Robots are going to win — who is going to be fired soon?
Share
Artificial intelligence (AI) has already appeared in many areas of our lives. ChatGPT, for example, creates articles and can send out newsletters, and chatbots are quite successful in dialogues with company clients. Some people believe that AI will not be able to fully replace those who perform their duties efficiently, but the world's largest banks are already planning massive staff layoffs in the next 3-5 years.
According to Bloomberg, a total of 200,000 bankers from all over the world are at risk of losing their jobs.
Who may lose the job very soon?
The findings were based on a survey in which almost a quarter of 93 respondents predicted that banks would cut 5% to 10% of their staff. The companies covered by the study include:
- Citigroup Inc;
- JPMorgan Chase & Co;
- Goldman Sachs Group Inc.
According to Tomasz Noetzel, a senior analyst at the publication, back-office, middle office and operational employees are under a serious threat of dismissal.
"Jobs that involve routine and repetitive tasks are at risk," said the man who created the report based on the study.
However, as the publication notes, artificial intelligence will not be able to completely replace these roles, so AI will probably just transform the workforce.
Meanwhile, 8 out of 10 respondents believe that generative AI will increase productivity and boost banks' revenues by 5% or more in 3-5 years. Thus, in 2027, financial institutions may receive an additional 12-17% of pre-tax income. They will be able to earn approximately $180 billion.
As a reminder, billionaire Elon Musk believes that artificial intelligence can turn into the best version of a human. The businessman believes that AI will surpass the intelligence of any human by 2025.
We also talked about how to work with ChatGPT. In particular, we explained what topics to avoid.
