"may reduce certain job categories or roles,"
"If there's a large company that might say, 'Well, we're not planning to hire as much because of AI,' or maybe 'We're letting people go because of AI,' I think there's a little bit of smoke and mirrors there,"
"'AI is often a scapegoat for things, because it's easier to blame AI than it is to blame softening consumer demand, or uncertainty because of tariffs, or maybe poor HR strategy the past few years in terms of over hiring coming out of COVID,' he continues, adding that 'there's a lot less political risk than blaming the President's tariffs.'"
Banks accelerated investment in AI and deployed tools that perform junior analyst tasks in seconds while cutting headcount in 2025. A Citigroup report finds 54% of financial jobs have high potential for automation, higher than other sectors. Most current banking layoffs are attributed to pandemic-era overhiring and broader economic uncertainty rather than direct AI replacement. Observers warn that companies sometimes use AI as a convenient scapegoat for demand softening, tariff uncertainty, or HR missteps. Present AI capabilities cannot yet replace senior bankers and consultants, though roles like marketing and accounting face greater near-term automation risk.
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