#ai--automation

#ai--automation

Morgan Stanley warns that the European banking sector could lose more than 200,000 jobs over the next four years. AI and branch closures are driving banks to make drastic staff reductions. Investment bank Morgan Stanley expects the sector to cut around 10 percent of jobs by 2030, affecting some 200,000 employees. The analysis covers 35 European banks with a combined workforce of 2.12 million. According to the Financial Times, digitization and AI are the main drivers behind this reorganization.

From AI tools to automation platforms, software now powers almost every part of the operations but that progress comes with a cost. As budgets rise, so does the pressure to make every dollar count. In fact, 71% of Canadian SMBs are already using AI and automation tools (source: Microsoft), and 69% plan to increase software spend this year (source: Capterra). With 75% expecting to boost their tech investments again in 2025 (source: Microsoft),