Europe’s banking industry is bracing for significant structural change as artificial intelligence accelerates automation across core functions. According to a recent Morgan Stanley analysis cited by the Financial Times, more than 200,000 banking roles — around 10% of the workforce across 35 major European banks — could be eliminated by 2030 as institutions deploy AI and reduce reliance on physical branches.
The analysis indicates that back-office operations, risk management, and compliance are expected to see the deepest cuts, as AI systems increasingly handle data-heavy and rules-based processes. Morgan Stanley projects efficiency gains of up to 30% from these initiatives.
The shift mirrors global trends, with Goldman Sachs and JPMorgan Chase also restructuring around AI-driven workflows. European lenders including ABN Amro and Société Générale have already signaled aggressive cost reductions, underscoring how rapidly AI is redefining modern banking.
