Banks lay groundwork for mass workforce cuts as AI takes hold

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Banks are accelerating AI adoption and expect significant workforce reductions as automation spreads across finance. Executives at major lenders say AI will replace some roles, especially in junior and middle-office functions, while also changing hiring patterns. Banks are already using AI for customer service, call summarization, transaction monitoring, and client-facing financial guidance. The article also highlights that some banks are using AI to improve efficiency without immediate layoffs, even as graduate hiring becomes more competitive.

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