AI is starting to replace humans in operations, analyst jobs
Data shows AI is replacing jobs in operations, data analysis, and customer support. JPMorganChase saw a 4% drop in operations staff and a 2% drop in support staff. Experts expect banks to cut outsourcing and offshoring as these areas are vulnerable to AI. While overall AI spending is rising and hiring is strong, some roles are being frozen or reduced.
Key insight: Data is starting to show where AI is eating jobs, and operations, data analysis and customer support are vulnerable.
Supporting data: At JPMorganChase, the number of operations and support staff decreased by 4% and 2%, respectively.
Forward look: Experts expect banks to cut back on their use of outsourcing and offshoring, where work is often repeatable and there are clear performance metrics.
Though AI spending and hiring data shows that in general, banks and other big AI spenders are hiring more humans than ever, there are areas where banks are freezing or curtailing the size of their employee bases as they deploy more AI.
Processing Content