AI Revolutionizes Banking: JPMorgan, Goldman Shift Hiring Amidst Record Profits

Major U.S. banks are reshaping their hiring strategies in response to the rapid advancement of artificial intelligence (AI), reflecting a shift in Wall Street employment practices even as they report record profits. JPMorgan Chase and Goldman Sachs announced plans to limit workforce growth while prioritizing AI integration across all operations, prompting concerns about potential job displacement. This decision comes amidst the tech giants’ widespread adoption of AI and echoes similar warnings from companies like Amazon and Microsoft. Analysts suggest that this reflects a strategic prioritization of efficiency and agility over rapid expansion.