European banks plan to cut 200,000 jobs as AI takes hold
The bloodletting will hit hardest in back-office operations, risk management, and compliance.
[...] risk management, and compliance
Nothing bad has ever happened when culling these two. /s
Those jobs will probably come back in other forms once shit hits the fanโฆ
Probably yes, but they will be for counting the government bailouts the banks will receive in that case.
The shit that will hit the fan will be so large, that many people might not survive it.
The AI bubble is bad enough on its own, but these ripple effects are making it global and cataclysmic.
Morgan Stanley predicts X. At the same time, Morgan Stanley sells their โservicesโ to achieve X.
Nothing to see here.
Time to change my bank
What am I even paying them for anymore?
I'd just like to mention that the sources appear to be all American investment banks presumably balls deep into both AI and class warfare.
