AI could free up 40% of middle, back-office capacity in banking sector by 2030: Report

Artificial intelligence could free up as much as 40 per cent of the existing workforce capacity in middle- and back-office banking functions by 2030, as banks move towards technology-led operations, according to a report by Boston Consulting Group (BCG).

The report, titled ‘A Golden Window for Growth’, said corporate and investment banks are entering a crucial phase in which rising revenues and wider adoption of AI could reshape how they operate, serve clients and manage costs.