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Millions of bank workers will lose their jobs in one blow! Identify the ‘criminal’…| Many bank employees are going to job loss as AI takes over

Millions of bank workers will lose their jobs in one

G 24 Hours Digital Bureau: Millions of people are going to lose their jobs at the beginning of the year. Hands on the heads of bank employees. Employees are more shocked when the reason for the job loss is revealed.

Currently, the progress of AI or artificial intelligence is fast. This advanced technology has its pros and cons. Many people may lose their jobs due to this technology. Wall Street banks, including industry giants such as Citigroup, JPMorgan and Goldman Sachs, are expected to lay off 2 lakh people over the next three to five years. Because, AI technology is able to complete tasks twice as fast as a human. Especially in back-office, middle-office and operations roles. This change isn’t just about cutting costs – it’s also about increasing productivity and profitability.

According to the All India News Agency, this is known from a recent survey. The job cuts are expected to mainly affect positions involved in routine and repetitive tasks such as customer service and know-your-customer (KYC) roles.

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According to Bloomberg Intelligence (BI), AI tools will streamline operations. As a result, less staff will be required for these functions. On the other hand, BI’s senior analyst, Thomas Knoetzel, said that the advent of AI technology will change the way work is done, but that employees will not lose their jobs entirely.

The role of AI in customer service is particularly significant as bots will increasingly handle client-facing tasks. It is also known that from now on tasks like KYC verification will be done by AI effortlessly.

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