#efficiency-gains

#efficiency-gains

According to a new Morgan Stanley analysis reported by the Financial Times, more than 200,000 European banking jobs could vanish by 2030 as lenders lean into AI and shutter physical branches. That's roughly 10% of the workforce at 35 major banks. The bloodletting will hit hardest in back-office operations, risk management, and compliance, the unglamorous guts of banking where algorithms are believed capable of tearing through spreadsheets faster and more effectively than humans.

Aurora driverless trucks have begun transporting goods on the nation's freeways, increasing efficiency but simultaneously leading to job losses for traditional truck drivers.

Neeraj Tolmare, the chief information officer at Coca-Cola, emphasizes that AI pilots must demonstrate potential for revenue generation or significant efficiency gains to gain approval.