Barclays has announced plans to cut 5,000 jobs, roughly 5% of its global workforce.
The bank is turning to artificial intelligence to handle back-office functions previously performed by staff.
The move signals a growing shift among major financial institutions toward automation in internal operations.
Barclays joins a wider trend of banks testing AI tools to reduce costs and improve efficiency.
The job reductions raise fresh questions about how quickly AI will reshape employment in the financial sector.
The Federal Reserve has also weighed in on the debate over AI replacing workers, offering its perspective on the issue.
Details from the Fed’s commentary suggest careful monitoring rather than alarm over immediate workforce displacement.
The Barclays decision highlights the practical effects of AI adoption beyond experimental pilots and into core business functions.
