Global banks will cut as many as 200,000 jobs in the next three to five years as artificial intelligence encroaches on tasks currently carried out by human workers, according to a market survey conducted by Bloomberg Intelligence.
DBS Bank in Singapore plans to reach out to 50,000 SMEs to equip them with GenAI tools and technology to help boost productivity.
Great study by the Bank of England of what is happening in AI in Financial Services.
According to recent research firms are struggling to find RoI for AI projects.
At Wednesday’s Meta Connect event, CEO Mark Zuckerberg announced Orion, which he described as “the most advanced glasses the world has ever seen.”
The Bank of England (BoE) is calling on financial services firms to join its artificial intelligence (AI) consortium designed to oversee the use of the technology within the sector.
As tech leaders look ahead to next year, most anticipate IT budgets to increase, according to Forrester.
Revolut has confirmed plans to launch a secondary share sale valuing it at $45bn (£35bn) as the Treasury reportedly looks to court the fintech into a London listing.
HSBC has pledged not to close any more branches until at least 2026 amid political and regulatory pressure to maintain access to cash on UK high streets.
ClearBank has continued their successful growth by securing their Dutch banking license.
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