NatWest CEO Paul Thwaite He said AI would change the bank’s workforce, though he did not say whether it would reduce size. I mentioned Friday (June 19).
Speaking at a business summit hosted by The Times, Thweatt said, according to the report: “In fact, there will be existing roles that will for all intents and purposes be served by AI.”
Daily Mail too I mentioned On Thwaite’s comments, he added that NatWest is employing a growing number of people in software and AI-related roles.
the PYMNTS INTELLIGENCE a report “Financial services are ahead in the enterprise AI race“Found that 85% of financial services and insurance companies have at least $1 billion in annual revenue plan to increase their AI budgets over the next 12 months.
The most widely adopted AI tasks among these companies are revenue recognition and accounting closing, credit risk assessment and recording, sales forecasting and pipeline optimization. According to the report, the percentage of companies that use artificial intelligence in these tasks reached 65%, 60%, and 60%, respectively.
“The most widely adopted use cases in the industry are clustered in structured, auditable back-office functions: internal processes that keep the business running but are not directly visible to customers,” the report said.
Advertisement: Scroll to continue
PYMNTS reported on June 2 that Nvidia‘s The state of artificial intelligence in financial services: trends for 2026 Report that nearly 90% of Financial institutions They deploy or evaluate AI and 65% of them are already using it.
It was reported Thursday (June 18). Dennis Rowe, Deutsche BankThe investment bank’s chief information officer said that artificial intelligence enables the bank to conduct operationsut end time For some assignments from two years to less than three months.
Deutsche Bank uses simpler models for routine tasks, is cautious about deploying AI in everything, and is currently developing AI tools to automate the extraction and analysis of financial data and link external events to the bank’s portfolio to measure its exposure, Rowe said in the report.
JPMorgan Chase Chairman of the Board of Directors and CEO Jamie Damon He said in May that the bank may eventually hire more Artificial intelligence experts From bankers.
“I think this will reduce our jobs in the future,” Damon said. “There will be all kinds of different jobs, and I think we will hire more AI people and fewer bankers in certain categories, and that will make them more productive.”
For all of PYMNTS AI and digital transformation coverage, subscribe to our daily newsletter Artificial Intelligence and Digital Transformation Newsletters.
