Incoming junior analysts on Wall Street could be at risk of losing their jobs to AI, raising concerns about potential significant cutbacks in hiring new analysts.
Banks like Goldman Sachs and Morgan Stanley are contemplating reducing new analyst hires by as much as two-thirds, with lower salaries for those hired, as AI technology assists in the work process.
Deutsche Bank's chief strategy officer noted that while AI tools could replace junior roles, human staff would still be necessary, hinting at a potential shift in the industry's workforce dynamics.
[
add
]
[
|
|
...
]