Jan. 9 (Bloomberg Intelligence) -- According to an analysis released today by Bloomberg Intelligence, as the AI Gradually replacing current work tasks performed by humans, the globalbankindustry will be in the next three to five yearsReduction of up to 200,000 jobs.
Bloomberg Intelligence survey of CIOs and technology officers shows that respondentsAverage expected reduction of approximately 3% of employees. Report author and Bloomberg Intelligence senior analyst Tomasz Notzl noted that back-office, middle-office and operations positions are most likely to be affected. The customer service space could change, with robots taking on customer-related tasks and functions such as "know your customer" also under threat. "Any position that involves repetitive and routine tasks is at risk, but AI won't completely replace these jobs, but more drive a shift in the way work is done."
About a quarter of respondents believe the layoffs could be even larger, at 5% to 10% of total headcount. companies surveyed by Bloomberg Intelligence include Citigroup, JPMorgan Chase and Goldman Sachs Group, among others.
The findings suggest that the industry willUndergoing profound changes that lead to increased profitability.. According to Bloomberg Intelligence, by 2027, AI adoption is expected to beIncrease the bank's pre-tax profit above expectations by 12% to 17%The increase in revenue of up to US$180 billion (note: currently around RMB 1.32 trillion) will come mainly from productivity gains. Some 80% of respondents expect generative AI to increase productivity and revenue by at least 5% over the next three to five years.
