Analysts predict that AI could displace approximately 200,000 European banking positions by 2030. The roles most vulnerable are in back and middle office functions, including data processing, risk management, and compliance. Banks are implementing AI to improve efficiency and reduce operational costs, which will impact traditional roles.
Several financial institutions are already initiating staff reductions linked to AI-driven restructuring. Banks anticipate efficiency gains of up to 30% through AI and digital advancements. This shift is occurring as retail banking increasingly moves to digital platforms, reducing the need for extensive branch networks.
The predicted job losses could affect up to 10% of the European banking workforce. Banks are focusing on automating central services, leading to significant changes in employment.
