From mild to wild: What impact will AI have on banking jobs? Banking Top banking bosses have issued their AI verdict after Standard Chartered stunned the sector with plans for sweeping job cuts last month. In this week’s column Samuel Norman looks at whether a reckoning could be on the horizon. The big-name banker must have known how the conversation would go when he arrived for lunch with [...]
‘It will reduce jobs’ – Jamie Dimon sounds off on AI’s impact on banks Banking One of the world’s leading financial figures has warned AI will inevitably lead to a cut in jobs amid growing jitters around the impact the new tech will have on the banking sector. Jamie Dimon – the top boss of America’s largest bank, JP Morgan – said: “I think [AI] will reduce our jobs down [...]
AI in banks? It’s all marketing and FOMO Banking As banks are rush to beef up their AI capacity Samuel Norman recounts the sentiment shared across the industry at a conference in Copenhagen last week. Like all sectors, banks are chasing the promises of AI. The industry is shrugging off growing fears around job losses and rushing to beef up their AI credentials. Last [...]
Exclusive: Lloyds in tie-up with Google to build AI agents April 30, 2026 Lloyds Banking Group has formed a tie-up with Google as the financial services giant sets its sight on building its own AI agents, City AM can reveal. The blue-chip lender is leveraging Google Cloud – the tech giant’s suite of computing services – and the bank’s existing Large Language Model to create a new internal [...]
European banking jobs face AI reset ‘not mass job losses – for now’ April 10, 2026 European banking jobs are in line for a boost from AI despite widespread fears the integration of new tech will trigger mass layoffs, according to fresh analysis. The headcount at the top lenders is expected to get a four per cent average uplift, analysts from Bloomberg Intelligence said in a new note. The increase is [...]
Bank of England: We can’t eliminate bias in AI March 16, 2026 A top boss at the Bank of England has warned the use of artificial intelligence programs will never be bias-free and instead users must be aware of the risk. Jem Davis, chief compliance officer at the Bank of England, said: “My view is you’re probably not going to be able to eliminate bias completely, but [...]
FTSE 100 Live: Zurich and Beazley £8bn deal gets time; Defence and bank stocks rally February 16, 2026 Good morning and welcome back to the City AM liveblog. The first round of 2026 tech wobbles kicked into action last week and revived fears of an AI bubble. When Anthropic released a new AI tool designed to help in-house legal teams triage agreements and draft routine responses, the reaction trickled down through law firms straight into [...]
Trump official warns UK on ‘Russia-style’ X ban after Grok row January 11, 2026 A key Trump administration official has sent the UK a firm warning following speculation Elon Musk’s X platform may face a ban after a scandal around AI-generated images. Sarah Rogers, under-secretary for public diplomacy at the US State Department, issued a series of messages criticising the UK on the rumoured ban. Rogers said the UK [...]
Two in five financial services firms lack safe AI controls September 11, 2025 As the financial services industry piles billions of pounds into artificial intelligence (AI), firms are lacking adequate measures to maintain safe usage, according to new figures. Fresh data from Big Four accountancy giant EY reveal 26 per cent of companies have no or limited controls in place to ensure AI systems adhere to laws and [...]
British billionaire trader offers interns £26k a month September 4, 2025 A billionaire trader has said interns at his trading empire would be paid $35,000 (£26,000) as firms fight to snap up the best tech talent. Alex Gerko, boss of XTX Markets, is offering postgraduates a 12 to 14-week research internship where they could pocket between $105,000 and $122,500. The position, a role commanding four days [...]