Barclays cutting 5,000 jobs as it increases reliance on AI

Barclays is cutting around 5,000 staff as it introduces more artificial intelligence (AI) into its work processes. The banking group said 1,000 posts had already been closed and it expects a further reduction of 4,000 to be complete by the end of this year, amounting to around 5% of its global workforce. The bank’s cost reductions are focused on its UK retail bank, but some back office functions for the UK are done in India, where a significant proportion of the job cuts are expected to fall. Barclays said the changes were the result of an ongoing modernisation plan, with the use of AI being the “icing on the cake” of its strategy. Although not all of the cuts are due to AI, their scale will prompt further concern over the impact of the new technology. Do you think that the best alternative to employment for humans is to hav land ?