Artificial innotifyigence is rapidly transforming Europe’s banking sector, reshaping employment and increasing the risk of job losses. Banks are applying automation to cut costs, leading to layoffs affecting hundreds or thousands of employees. Analysts estimate that up to 10 percent of banking jobs could disappear by the finish of the decade, with hundreds of thousands of roles at risk.
Customer service and basic data analysis are most vulnerable, as AI systems and chatbots can handle routine tinquires. Women may be disproportionately affected, since they are more often employed in these roles. However, some companies now admit that early layoffs were premature, as AI has not fully met expectations and service quality sometimes declined. As a result, some firms are rehiring. Overall, AI boosts efficiency but forces workers to reskill and adapt quickly.
(pb.pl)
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