TLDR:
In a survey conducted by Arizent, 75% of respondents believed that AI would change the nature of some jobs in banking but would not replace human workers, while 21% believed that AI would replace jobs in the industry. The survey reflects the views of many experts within the finance industry, who believe that AI will augment human capabilities rather than completely replace jobs. Experts expect that customer service roles, fraud prevention and detection, analytics, and marketing are the areas most ripe for disruption from AI. While AI may replace some middle management roles, rank-and-file employees are less likely to be affected. Instead, AI is expected to shift bankers’ roles away from rote and mechanical tasks toward more analytical ones. Banks will need to invest in upskilling their employees to properly utilize AI technologies.
Key Points:
- A survey conducted by Arizent reveals that 75% of finance industry professionals believe that AI will change the nature of some jobs in banking but will not replace human workers.
- Customer service roles, fraud prevention and detection, analytics, and marketing are seen as the areas most ripe for disruption from AI in the banking industry.
Many experts believe that AI will augment human capabilities rather than completely replace jobs. While rank-and-file employees are less likely to be affected, middle management roles may be more at risk of disruption. Banks will need to invest in upskilling their employees to properly utilize AI technologies.
