NatWest boss Paul Thwaite has become the latest banking chief to admit that artificial intelligence (AI) will take over some jobs in the sector.
Thwaite said he did not know whether the lender’s 60,000-strong workforce would shrink over the next decade but said it ‘is definitely going to change’.
The bank already employs increasing numbers of people in software and AI-related roles.
And Thwaite told a business summit hosted by The Times: ‘In effect there will be roles that currently exist that absolutely to all intents and purposes [will be] delivered by AI.’
The comments follow a series of warnings from other bank chiefs about the impact of new technology – most infamously in the case of Standard Chartered boss Bill Winters.
