AI Could Replace 200,000 Jobs on Wall Street, According to a New Report. These Are the Jobs Most at Risk.

Bankers return note: AI could beryllium your adjacent coworker.

Bloomberg Intelligence surveyed main accusation and exertion officers astatine 93 awesome banks, including Citigroup, JPMorgan, and Goldman Sachs, successful a study released Thursday.

The study showed that AI could lead to arsenic galore arsenic 200,000 occupation cuts successful the banking manufacture successful the adjacent 3 to 5 years. Executives expect to trim an mean of astir 3% of their wide workforce arsenic AI automates much tasks. Nearly 1 successful 4 executives said that much jobs than the mean could beryllium cut, astir 5% to 10% of their full workforce.

Related: Is AI Taking Your Job This Year? Staggering Stats Show How the Technology Is Reshaping the Workforce.

"Any jobs involving routine, repetitive tasks are astatine risk," stated Tomasz Noetzel, the Bloomberg Intelligence elder expert who wrote the report.

Noetzel said that backmost office, mediate office, and operations roles were the ones pinch the highest chances of being cut. Bots could negociate customer work inquiries, for example. However, Noetzel besides says that AI will only toggle shape these jobs, not destruct them entirely.

AI is already being utilized successful the banking manufacture to automate activity that was formerly completed by humans. In March, JPMorgan said that its AI rate travel intelligence instrumentality helped immoderate clients trim quality activity by almost 90%. The instrumentality analyzes, sorts, and categorizes institution rate flows.

Related: JPMorgan CEO Jamie Dimon Says AI 'Is Real' and Will Eliminate the 5-Day Work Week. Here's How His Company's Going All In.

JPMorgan CEO Jamie Dimon has said that AI has the power to present a three-and-a-half-day workweek and summation quality lifespans.

In February, "buy now, salary later" financing institution Klarna said that its AI chatbot did the activity of 700 full-time quality agents.

Klarna CEO Sebastian Siemiatkowski stated earlier this week that AI is presently tin of replacing each jobs, moreover his own, though it would request much investigation and improvement earlier it could afloat execute this.

Related: 'Not Necessarily Super Excited About This': Klarna's CEO Says AI Can Take Over All Jobs, Including His Own

A Citigroup report released successful June showed that retired of immoderate different industry, including media, software, automotive, and retail, AI posed the highest imaginable to automate jobs successful the finance sector. More than half of the jobs successful the banking manufacture could beryllium automated, per the report.

Citigroup besides recovered that AI could adhd $170 cardinal to the banking assemblage by 2028.