Artificial Intelligence Will Replace Bank Employees in the Near Future According to a Research

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Artificial Intelligence Will Replace Bank Employees in the Near Future According to a Research

It is stated that banks can save 70 billion dollars by 2025 by using automation and artificial intelligence technologies. With automation, companies are expected to focus on manpower and high value generating businesses.

It is estimated that banks in North America can save $ 70 billion by 2025 by using artificial intelligence and automation technologies. In terms of numbers, many banks may entrust their systems to artificial intelligence in the future.

According to research by Accenture, artificial intelligence investments in sectors such as banking, insurance and capital markets will go along with a decrease in the number of workers and an increase in production. Research says savings can reach $ 140 billion, but with reduced working hours, companies can focus on manpower, high-value activities, innovation, public relations and customer experience.

Research results show that all banking transactions will be automated in the near future:

According to the research, by 2025, 7 to 10 percent of jobs will be automated. Accenture argues that services such as innovation and customer experience create significant value. He points out that half of the work done by civil servants, personal finance consultants, cashiers and customer service representatives will be done by automation. So today’s automated payment instructions will form the basis of many banking transactions in the future.

Banks such as Citigroup, Capital One and JPMorgan Chase are already using artificial intelligence technologies to assist their employees. It is stated that by 2030, banks can lay down 1.3 million people to cut costs. As of 2019, banking is still one of the most popular professions, but companies in the banking sector are investing with the knowledge that many people will lose their jobs with investments in automation and artificial intelligence. This popular ‘white collar’ profession is said to be more threatened by artificial intelligence than professions such as teaching or cookery.

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