The Morgan Stanley report underlines the challenge to the financial services industry from AI. Photograph: Gabby Jones/BloombergMore than 200,000 European banking jobs are under threat over the next five years as lenders increasingly embrace artificial intelligence (AI) and close branches, analysts have estimated. The forecast from Morgan Stanley that the industry could cut one in 10 jobs by 2030 comes as banks are rushing to secure the savings promised by AI while also moving more operations online. “Many banks have quoted efficiency gains coming from AI and further digitalisation to the tune of 30 per cent,” Morgan Stanley said. The potential for AI to reshape Europe’s banking industry was echoed by analysts at UBS, which has started using the technology to turn its analysts into avatars, sending videos of the simulated bankers to clients.

Source: The Irish Times January 01, 2026 18:01 UTC