Financial firms face AI workforce gap as job cuts loom

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    "url": "https://cyprus-mail.com/2026/09/06/financial-firms-face-ai-workforce-gap-as-job-cuts-loom",
    "title": "Financial firms face AI workforce gap as job cuts loom - Cyprus Mail",
    "excerpt": "Financial services firms are moving rapidly to adopt artificial intelligence but remain poorly prepared for the workforce changes it could bring, according to a PwC survey of more than 1,000 senior executives. The survey found that 42 per cent of financial services leaders have carried out company-wide modelling of how AI could change the amount of labour they need, while almost eight in 10 expect their workforces to shrink by at least 20 per cent over the next five years. PwC said the figures point to a gap between calculating how many jobs could disappear and planning what the workforce will actually need to look like as AI becomes more widely used. Among companies that have begun workforce modelling, only half have examined how AI-driven changes to processes and workflows could affect their staffing needs. The findings come from PwC’s 2026 Financial Services Workforce AI Survey , which examined how US financial services firms are preparing for AI and its impact on hiring, skills, pay and leadership. The survey found that financial firms are under pressure to accelerate their adoption of AI, with 90 per cent of executives saying companies need to become more comfortable moving quickly. At the same time, 77 per cent said their own organisation was not moving quickly enough to keep pace with AI innovation, despite 70 per cent saying their company was already moving faster to...",
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