2.3 million – jobs lost to artificial intelligence in China’s financial sectors by 2027


(THIS ARTICLE IS COURTESY OF ANDY TAI’S CHINA DEBATE)

2.3 million – the number of jobs that could be lost to artificial intelligence in China’s financial sectors by 2027 – SCMP

About 2.3 million finance industry employees in mainland China are likely to either lose their jobs, or be reassigned to new roles, by 2027, as they fall victim to disruptive artificial intelligence technologies.
A study by Boston Consulting Group (BCG) found that 23 per cent of the total 9.93 million jobs in the country’s banking, insurance and securities sectors will be affected, with entry-level staff engaged in repetitious daily operations bearing the brunt of any cuts.

“Many jobs, particularly those involving mechanical, repetitious operations, will gradually be replaced by AI,” David He, a BCG partner, said in a statement. “Consequently, some positions will be cancelled, but other positions will see improvements in efficiency, and new jobs will be created.”

2.3 million – the number of jobs that could be lost to artificial intelligence in China’s financial sectors by 2027 | South China Morning Post
2.3 million – the number of jobs that could be lost to artificial intelligence in China’s financial sectors by 2027 | South China Morning Post
scmp.com
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