European Banks Expect AI Buildout to Add Headcount, Survey Says

The rise of artificial intelligence is prompting fears of widespread job cuts across finance, but European bank executives don’t expect that to happen anytime soon.

European banks’ AI buildout could see net headcount to rise 4% on average in the next three years, according to a Bloomberg Intelligence survey of senior executives at 57 global banks. That reflects lenders hiring engineers and data scientists to fully deploy the technology.