From mild to wild: What impact will AI have on banking jobs? Banking Top banking bosses have issued their AI verdict after Standard Chartered stunned the sector with plans for sweeping job cuts last month. In this week’s column Samuel Norman looks at whether a reckoning could be on the horizon. The big-name banker must have known how the conversation would go when he arrived for lunch with [...]
I’m an AI founder – here’s why I agree with the Pope about AI Opinion Pope Leo XIV’s has produced the most profound piece of writing on AI – critiquing how extreme capitalism uses AI to homogenize knowledge and concentrate power, says Lewis Liu When I was 18, I took a religious philosophy course as part of the core curriculum at Harvard. When we dove into the Tower of Babel, [...]
Top City law firm slammed for ‘misleading’ AI letters sent to court Tech A well-known London-headquartered law firm has been criticised by a High Court judge after a lawyer sent the court AI-generated letters containing false legal information. A judgment handed down on 22 May found a junior solicitor at Pinsent Masons used AI to draft two “misleading” emails containing so-called hallucinations sent to the High Court [...]
‘It will reduce jobs’ – Jamie Dimon sounds off on AI’s impact on banks May 21, 2026 One of the world’s leading financial figures has warned AI will inevitably lead to a cut in jobs amid growing jitters around the impact the new tech will have on the banking sector. Jamie Dimon – the top boss of America’s largest bank, JP Morgan – said: “I think [AI] will reduce our jobs down [...]
Data centres to consume tenth of global power by 2050 May 20, 2026 The AI boom is set to drive one of the largest increases in electricity demand in modern history, with data centres expected to consume a tenth of the world’s power by 2050. Global data centre electricity demand will more than double from 500 terawatt-hours (TWh) last year to 1,114TWh by mid-century, according to BloombergNEF data, [...]
Deloitte: UK Gen Z and Millennials delaying milestones and living ‘payslip to payslip’ May 13, 2026 British Gen Z and Millennials are delaying major life decisions as they live “payslip to payslip”, according to data shared exclusively with CityAM from Big Four giant Deloitte. The data, based on findings from 806 respondents as part of the firm’s annual Gen Z and Millennial Survey, revealed that around 40 per cent of [...]
AI’s biggest problem is that it is trained to ‘please you’, warns tech chief May 13, 2026 The biggest risk facing AI may be that it becomes too good at telling users what they want to hear. Anthony Goonetilleke, chief tech officer at software firm Amdocs, told CityAM businesses rushing to deploy AI are vastly underestimating a more subtle and potentially more dangerous problem emerging inside LLMs. “There’s another bucket I [...]
AI in banks? It’s all marketing and FOMO May 13, 2026 As banks are rush to beef up their AI capacity Samuel Norman recounts the sentiment shared across the industry at a conference in Copenhagen last week. Like all sectors, banks are chasing the promises of AI. The industry is shrugging off growing fears around job losses and rushing to beef up their AI credentials. Last [...]
UK ministers tell UK businesses to ‘step up’ cyber defences May 12, 2026 Ministers have announced a new push to force firms to strengthen their cyber defences against AI-powered attacks, as Britain’s cyber industry has swelled to £14.7bn. According to new Department for Science, Innovation and Technology (DSIT) figures, Britain’s cyber sector saw a 11 per cent rise in the past twelve months, while the number of companies [...]
Starmer’s Europe reset risks strangling UK AI sector with EU regulation May 11, 2026 As the prime minister scrambles to save his premiership Keir Starmer has vowed to position the UK “at the heart of Europe” – but his pledge risks reigniting fears that closer EU ties could undo the UK’s AI advantage. In today’s speech, aimed at rescuing the prime minister’s position after bruising local election losses, Starmer [...]