According to a survey report released by the media on Thursday, given that artificial intelligence will gradually encroach on tasks currently performed by humans, global banks are expected to cut up to 200,000 jobs over the next three to five years.

The report indicates that bank chief information officers and technology officers surveyed by the media anticipate an average reduction of 3% in their workforce. Analysts who authored the report suggest that back-office, middle-office, and operations departments are likely to face the greatest risks of layoffs.

The concepts of "front", "middle", and "back" offices are very popular in the banking system and can be understood as follows: The "front office" consists of positions that directly interact with customers, responsible for marketing and service tasks, such as tellers, hall managers, and account managers.

The "middle office" provides specialized management and guidance to the front office, including risk management and product development. The "back office", on the other hand, is more involved in administrative and operational tasks, such as accounting, human resources, and IT support.

As robots begin to manage customers, customer service is likely to change, and responsibilities will be at risk. Analysts consider "any job involving repetitive tasks is at risk." However, artificial intelligence will not completely eliminate them but will lead to a transformation of the workforce.

Among the 93 respondents, nearly a quarter (24%) expect the total number of employees to significantly decrease by 5% to 10%; 17% believe the reduction will exceed 10%; 19% anticipate a decrease within the range of 0% to 5%; and 16% expect to maintain the current level of positions.

In a report last June, Citigroup stated that the likelihood of artificial intelligence replacing jobs in the banking industry is greater than in any other sector. Citigroup indicated at the time that approximately 54% of jobs in the banking industry are highly likely to be automated.

Nevertheless, many companies emphasize that such a shift will only transform positions rather than completely replace them. Two months ago, Teresa Heitsenrether, who is in charge of artificial intelligence at JPMorgan Chase, stated that the generative AI adopted by the bank so far has been creating jobs.

In addition to layoffs, the survey results also suggest that the industry will undergo profound changes, with profit levels likely to increase: by 2027, as artificial intelligence boosts productivity, banks' pre-tax profits could be 12% to 17% higher than originally projected, with total profits increasing by $180 billion.

Eighty percent of respondents also expect that generative artificial intelligence will increase productivity and revenue generation by at least 5% over the next three to five years.

Notably, JPMorgan Chase CEO Jamie Dimon stated in 2023 that even though artificial intelligence will replace some jobs, it is likely to greatly improve the quality of life for employees.