The Future of Finance & Innovation: Can You Bank on Generative AI?

Generative AI to Reshape Banking and Tech

A groundbreaking new era of artificial intelligence (AI) is ready to challenge long-held beliefs about technology.

For years, individuals employed in warehouses or fast-food restaurants have expressed concerns about the potential impact of automation on their employment. However, recent research indicates that generative AI, such as the one utilized in chatbots like OpenAI’s ChatGPT, is expected to have a significant influence on professionals in white-collar positions, particularly those in lucrative sectors like banking and technology. The nonprofit research institute Burning Glass Institute and SHRM, formerly the Society for Human Resource Management, released a report on Thursday. The report does not explicitly state that the technology will eliminate a significant number of jobs. However, it is evident that workers should enhance their readiness for a future where AI might have a substantial impact on various workplaces that have previously remained unaffected by technological changes. For individuals in the tech industry, this could imply that they might be constructing their own AI substitutes. “The individuals who will be most affected are those with college degrees, a group that has traditionally felt secure,” stated Matt Sigelman, the president of the Burning Glass Institute.

The researchers calculated the share of payroll spending that goes to workers in the 200 occupations where generative AI is most likely to have an impact for many corporations. Business analysts, marketing managers, software developers, database administrators, project managers, and lawyers are just a few of the well-off people with college degrees who hold these positions.

Finance companies such as Goldman Sachs, JPMorgan Chase, and Morgan Stanley are expected to face significant disruptions to their payrolls due to the rise of generative AI. Close behind are technology powerhouses such as Google, Microsoft, and Meta. Enabling AI to perform tasks traditionally done by humans can lead to significant cost savings for businesses. According to the research, banks and certain tech companies allocate a significant portion of their payrolls, ranging from 60 to 80 percent or even more, to employees in occupations that are most susceptible to the impact of emerging technology.

According to the report, the retail, restaurant, and transportation industries are expected to experience minimal impact from generative AI. Many well-known companies, such as Walmart, McDonald’s, and Delta Air Lines, primarily hire employees who do not have college degrees. These individuals are responsible for tasks such as assisting customers, restocking shelves, preparing food, and managing baggage. They allocate less than 20% of their payrolls to workers in the professions where generative AI will most likely have an impact.
The report does not provide any predictions regarding potential job losses associated with generative AI. According to the report, the decision of whether to bank the savings from AI automation or use it to invest and grow by adding more workers will be left to employers. Many experts predict that AI will have a significant impact on job roles in the coming years, potentially transforming them rather than completely replacing them. However, this could shift if there are significant advancements in technology.

The report highlights the need for increased training to prepare workers to adapt to fast-arriving technology, said Johnny C. Taylor Jr., chief executive of SHRM. “Corporations and governments will need to make significant investments to stay ahead of this,” he said. The report represents a recent addition to the expanding body of research that aims to forecast the impact of generative AI on the economy and the workplace. Additional research has predicted a significant increase in economic growth and productivity with the automation of numerous job functions. This automation has the potential to save time, up to 50 percent, for routine office and coding tasks.


Subscribe to Our Newsletter

Related Articles

Top Trending

girls in STEM strategies with visible results
Encouraging Girls in STEM: Strategies That Work and Build Real Confidence!
Best Online Courses to Learn Advanced SEO Metrics
From GA4 to AI Search: Best Courses to Upgrade Your SEO Skills
Green Hydrogen Fuel
The Rise Of Green Hydrogen As A Clean Fuel Source
energy-efficient LED lights and appliances
Benefits of Using Energy-Efficient LED Lights and Appliances
Check Your Real Internet Speed
How to Check Your Real Internet Speed and Detect ISP Throttling

Fintech & Finance

HONOR 600 Pro vs HONOR 600 Lite 5G
HONOR 600 Pro vs HONOR 600 Lite 5G: Full Comparison with Expected India Pricing
How to Dispute a Credit Card Charge Successfully
How To Dispute A Credit Card Charge Successfully
How to Protect Yourself from Financial Scams
Financial Scam Prevention Tips to Protect Your Money
The Truth About Buy Now Pay Later Services
The Truth About Buy Now Pay Later Services
best UK current accounts 2026
9 Best UK Current Accounts with the Highest Interest and Best Perks in 2026

Sustainability & Living

Green Hydrogen Fuel
The Rise Of Green Hydrogen As A Clean Fuel Source
energy-efficient LED lights and appliances
Benefits of Using Energy-Efficient LED Lights and Appliances
Wind Power Global Energy Markets
How Wind Power Is Reshaping Global Energy Markets
Circular Economy Basics
Circular Economy Explained: Why Waste Is A Design Flaw
Eco-Friendly Bathroom Plan
Eco-Friendly Bathroom: My 30-day Conversion Plan With Products [Join the Challenge]

GAMING

Custom Mechanical Keyboard
DIY: Build a Custom Mechanical Keyboard That Feels Like Yours
open-world games done right
The 9 Best Open-World Games Done Absolutely Right
best couch co-op games
10 Best Couch Co-Op Games Worth Playing Together With Family and Friends
best story driven games
13 Best Story-Driven Games That Stay With You In Your Memories
multiplayer games worth playing
The 8 Best Multiplayer Games Worth Playing With Friends

Business & Marketing

The Truth About Buy Now Pay Later Services
The Truth About Buy Now Pay Later Services
Guest Posting In 2026
Guest Posting In 2026: Is It Worth It? And How To Do It Right
New Zealand social media marketing
13 Critical Facts About How New Zealand's Small Market Forces Brands to Be Creative on Social Media
Cold Email in 2026
Cold Email In 2026: What Works, Lands In Spam, And What Converts
Entrepreneurial Spirit Promotes Social Change
Entrepreneurial Spirit Promotes Social Change

Technology & AI

Check Your Real Internet Speed
How to Check Your Real Internet Speed and Detect ISP Throttling
Custom Mechanical Keyboard
DIY: Build a Custom Mechanical Keyboard That Feels Like Yours
My Image Search Techniques
Mastering Image Search Techniques: Your Ultimate Guide To Reverse Image Search
AI in modern classrooms
How AI in Modern Classrooms Is Transforming Learning
Tikcotech
The Power of Tikcotech: Your All-in-One Solution For TikTok Success

Fitness & Wellness

beginner home workouts
9 Beginner Home Workouts to Try for Real Results: Start Your Fitness Journey!
setting realistic fitness goals
Setting Realistic Fitness Goals: A Beginner’s Practical Guide That Actually Works
best home workouts guide
39 Home Workout Routines for Every Fitness Level to Get Fit Without a Gym
beginners fitness guide
Beginner’s Complete Fitness Guide: A Practical Beginners Fitness Guide for Real Life
DIY Ergonomic Home Office Setup
How I Changed My Home Office After Three Spine Surgeries