The traditional rite of passage for young professionals seeking a career in investment banking may soon be upended by the rapid advancements in AI technology, according to a recent report.that investment banks are increasingly turning to AI to automate and streamline many of the tasks typically performed by entry-level analysts, raising questions about the future of these roles in the industry.
Jamie Dimon, chief executive of JPMorgan Chase, compared the consequences of AI to those of “the printing press, the steam engine, electricity, computing and the internet, among others” in his annual shareholder letter. He also noted that AI “may reduce certain job categories or roles” and labeled the technology as one of the most important issues facing the nation’s largest bank.
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