European banks set to cut 200,000 jobs as AI promises 30% efficiency gains

Europe’s banking sector is facing a major structural shake-up as artificial intelligence (AI) promises unprecedented efficiency gains. According to a Morgan Stanley analysis reported by the Financial Times, more than 200,000 jobs across 35 major European banks—roughly 10% of the workforce—could be eliminated by 2030 as lenders increasingly rely on AI and reduce physical branch

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