Wall Street analysts are at risk of getting replaced by AI bots. Since artificial intelligence gained traction, employees in various sectors and industries have become concerned about their careers.

However, what sources within major banks revealed is surprising since they claim that AIs could replace Wall Street analysts who evaluate the investment potentials of companies.

Wall Street Analysts Could Be Replaced by AI

According to Business Insider's latest report, sources from different major banks in the US said that Wall Street analysts could lose their jobs because of AI.

They warned that incoming junior Wall Street analysts are mostly at risk of being replaced by AI bots. Some of them added that around two-thirds of incoming junior investment banking analysts could be terminated.

In addition, they shared that those lucky enough to be brought on board could receive lower salaries since their work might be assisted by AIs.

"The easy idea is you just replace juniors with an AI tool," said Deutsche Bank Chief Strategy for Technology Data Christoph Rabenseifner via The US Sun.

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Will AI Lead To Junior Wall Street Analyst Terminations?

Although most of the details shared are concerning, other sources clarified that the arrival of AI on Wall Street doesn't necessarily mean the termination of all entry-level jobs.

They added that the implementation of AI bots would most likely mean lower salaries for entry-level analysts. However, artificial intelligence could still benefit them in a different way: increased job satisfaction.

"AI will enable us to do tasks that take 10 hours in 10 seconds," said JPMorgan Co-Head Jay Horine.

"My hope and belief is it will allow the job to be more interesting," he added.

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