## Introduction European banks plan to cut 200,000 jobs as AI takes hold ## Technical context AI is revolutionizing the financial sector, with Large Language Models improving rapidly their analysis and prediction capabilities. ## Impact on the workforce The restructuring will be more intense in back-office, risk management, and compliance departments. These employees will often be replaced by automated systems that can process large amounts of data faster and more accurately. ## Mitigating strategies Banks are already implementing cost-cutting measures to increase efficiency. This includes creating new positions that leverage the capabilities of Large Language Models, such as risk management and compliance. ## Conclusion The transition to a more automated economy will require significant changes in the financial sector. European banks must be prepared to support this process and ensure their employees can adapt to new technologies.