European Banks May Cut 200,000 Jobs by 2030 Due to AI

European banks are planning to cut a lot of jobs by 2030 because of artificial intelligence.

A report by Morgan Stanley says that more than 200,000 jobs could be lost, which is about 10% of the workforce in 35 big European banks.

Banks are using AI to do things faster and cheaper, like checking documents and managing rules.

They are also closing physical branches because more people are using online banking.

Some banks have already started cutting jobs, and they are trying to save money to make more profit.

While AI can help, some experts say it's important not to forget about teaching new employees important banking skills.