Is AI coming for your bank job?
Banks are implementing new AI technologies to help improve worker productivity. Entry level positions are likely to see the most impact, but expect changes at all levels and departments of the organization.
Is artificial intelligence coming for your banking job? That depends, experts say.
The more senior you are, the less likely your role will see an impact from AI. Generative AI technologies are much more likely to impact entry-level roles, according to research from Gartner. About 52% of entry level individual contributor positions will be impacted by generative AI, compared to 16% of first level managers and 17% of mid-level managers, Gartner finds. By the time you reach the executive level, that percentage shrinks even further. Just 3% of senior management (think: CEO, COO) are set to be impacted by AI technology.
AI is never going to fully replace human employees, and is widely expected to be a boon for the workplace. About 30% of the hours employees currently work will be automated by 2030, according to a report from McKinsey. This will free up some workers to focus on more strategic projects. But it will require some employees to embrace new skills — particularly those working in customer service and office support.
But why, exactly, are certain roles set to be affected more significantly than others? Below, we broke down which roles will be the most impacted by AI and the trends bank employees can expect over the next few years.
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