Global Banks Pay $25,000 a Day for AI Training as 5,000 Traditional Jobs Disappear
Updated
Updated · News18 · May 26
Global Banks Pay $25,000 a Day for AI Training as 5,000 Traditional Jobs Disappear
3 articles · Updated · News18 · May 26
$25,000-a-day courses from Wall Street Prompt are being bought by banks including Citigroup, Bank of America and T. Rowe Price to teach staff how to use AI in core finance work.
The push reflects a shift from AI skepticism to urgency, with banks treating tool fluency as a competitive necessity for analyzing pitch videos, scanning earnings-call transcripts and automating labor-intensive tasks.
That demand is rising as major lenders including Standard Chartered, Citigroup, Wells Fargo and Bank of America have already cut about 5,000 traditional banking jobs despite strong earnings.
Wall Street Prompt, founded in 2025 by two former SoftBank employees, is weighing expansion to Singapore, which ranks first among 174 countries on the IMF's AI preparedness index.
Are banks wasting millions on AI training that won't actually boost their bottom line?
As AI prepares to automate a third of bank jobs, what does a human career in finance even look like?
With AI agents now making trades, are we one hack away from the next global financial crisis?
From Layoffs to Leadership: Navigating the AI-Driven Workforce Transformation in Global Finance
Overview
The global financial industry is experiencing a major transformation as artificial intelligence shifts from a support tool to a core driver of banking operations. This change is leading to significant job reductions and a redefinition of roles, as banks like Standard Chartered and Klarna leverage AI to boost efficiency and cut costs. AI is now taking over many tasks once done by humans, prompting institutions to rethink their workforce strategies and pursue new directions. As a result, the sector is rapidly evolving, with AI integration reshaping both daily operations and long-term business models.