Morgan Stanley makes a 'layoff forecast' for European banks

Morgan Stanley predicts AI could boost European banks' productivity by 30%, potentially leading to job cuts of up to 20% in the next five years. Analysts suggest these reductions may occur through voluntary exits, while AI also offers revenue growth opportunities by improving customer targeting. Several European banks are already exploring AI-driven restructuring, with some announcing significant support role reductions.

from Times of India https://timesofindia.indiatimes.com/technology/tech-news/in-a-research-note-morgan-stanley-makes-a-layoff-forecast-for-european-banks-says-ai-will-help-in-productivity-gains-of-30-resulting-in-job-cuts-of-up-to-/articleshow/131374971.cms