European Banks Embrace AI, Potentially Cutting 200,000 Jobs by 2030

The article highlights the significant impact of AI adoption on the European banking sector. It predicts substantial job losses due to automation and branch closures, driven by efficiency goals. The source is a Chinese tech news website, cnBeta, citing a Morgan Stanley analysis. The focus is on the economic consequences of AI integration.

• •European banks are rapidly adopting AI to improve efficiency.
• •This adoption is expected to lead to significant job losses.
• •The analysis predicts over 200,000 job cuts by 2030.
• •The primary drivers are automation and branch closures.