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AI Could Soon Replace Lower-Cadre Employees in Financial Institutions

According to a recent report, financial service companies such as Morgan Stanley and Goldman Sachs have been testing AI tools that could leave some individuals unemployed. Investment companies and banks globally are currently considering the replacement of entry-level positions with AI, with more than one-half of these positions set for scrapping. This may transform how companies hire new employees entirely as well as how they deliver the technology used by their employees.

Goldman Sachs estimates that about…

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