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Wall Street prepares for 200,000 job cuts as AI takes over: Report

AI039s rise may cost 200000 Wall Street jobs boosting efficiency profits and reshaping roles in finance

As artificial intelligence (AI) continues to advance, the financial industry is bracing for significant job losses.

Wall Street banks, including industry giants like Citigroup, JPMorgan, and Goldman Sachs, are expected to cut up to 200,000 jobs over the next three to five years. The reason? AI is rapidly taking over tasks traditionally performed by human workers, particularly in back-office, middle-office, and operations roles. This shift is not just about cutting costs—it’s also about boosting productivity and profits.

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