The implementation of artificial intelligence in the European banking sector suggests that some 200,000 jobs could be eliminated by 2030 as a result of the automation of certain areas involving repetitive processes.

These predictions stem from an analysis by the Financial Times, “based on estimates from Morgan Stanley,” as “a logical consequence of an industry under increasing pressure to reduce costs and improve profitability.”

According to Morgan Stanley’s forecasts, European banks could reduce their payrolls by 10% over the next five years, representing “approximately 212,000 jobs out of a total of 2.12 million employees.”

The firm bases its predictions on the advance toward digitalization and the subsequent closure of physical branches, as well as the rapid adoption of AI as a tool for gaining efficiency.

The areas where payrolls would be reduced include “the banks’ core services: back office, middle office, risk management, and regulatory compliance,” which involve repetitive processes, “precisely where automation offers the greatest return.”

Morgan Stanley experts point out that this would result in lower structural costs and improved efficiency ratios.

A change in how European banks operate is inevitable due to the incorporation of AI, which will help improve margins and efficiency, “exactly what European banks need to convince investors.”

M.Pino

Source: bolsamania

(Reference image source: Mohamed Nohassi on Unsplash)

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Recent data presented by the Adecco Group identifies Peru as a leader in Latin America in the use of generative artificial intelligence. The document titled “Making AI at Work – Work for Everyone” indicates that 70 % of workers use this tool in their work.

Generative AI has become indispensable in automation processes. In Peru, according to the Adecco Group, 62 % of the population believes that “this technology can have a positive impact on their workplace.” In fact, many job offers currently require knowledge in generative AI, according to Dr. Wester Zela, dean of the Faculty of Engineering and Business at María Auxiliadora University (UMA).

“According to data from Bumeran, 57 % of Peruvian professionals use artificial intelligence in their daily work, which represents an increase of 8 percentage points compared to 2024.”

With this figure, the country ranks at the top of the ranking, above Argentina and Chile (55 %), Panama (40 %), and Ecuador (39 %), boosting business productivity and “allowing workers to focus their efforts on higher-value activities, thus enhancing their professional development.”

Faced with challenges such as specialized training in AI, technological infrastructure (computer centers), and data management and availability, “UMA is taking on a pioneering role: it is the first university in the country to offer an Artificial Intelligence Engineering degree, integrating AI components into all its degree programs and preparing its students for the technological demands of the future.”

The Peruvian educational institution takes on the challenge of training artificial intelligence experts to develop algorithms and solutions applicable to any sector. The dean of UMA affirms that all the degree programs offered “integrate AI components, because this is one of the fundamental pillars of our university for all professions.”

M.Pino

Source: peru21

(Reference image source: Emiliano Vittoriosi on Unsplash)

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Venezuela has a new higher education institution, recently inaugurated by President Nicolás Maduro. The Dr. Humberto Fernández Morán University of Sciences will offer careers such as nanotechnology, cybersecurity, atomic engineering, artificial intelligence, electromedicine, and automation, among others.

Its headquarters are in the facilities of the Venezuelan Institute of Scientific Research, IVIC, in the state of Miranda. According to the president, “the sector vice president Gabriela Jiménez will be the rector of this house of study and will work with the board of directors made up of: Roberto Antonio Betancourt Arocha, as secretary; Diana Josefina Carrillo Parra, academic director; David Santiago Paul Gómez, research director; Irving Alberto Acevedo Baptista, student director; Naima Magdalena Fernández Rosas, as administrative director.”

The University of Sciences Dr. Humberto Fernández Morán will offer 15 specialties that combine classic careers with cutting-edge areas such as: “Bachelor’s Degree in Philosophy and Atomic Energy, Chemistry, Mathematics, Electromedical Engineering, Robotics and Automation, Biomaterials, Petrochemistry, Artificial Intelligence, Cybersecurity and Physics.”

According to Maduro, the free educational institution will have the best Venezuelan scientists and professors in Latin America.

M.Pino

Source: ultimasnoticias

(Reference image source: Ousa Chea on Unsplash)

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Visa has proposed a concept called “Account Abstraction” (AA) in a whitepaper aimed at developers of Ethereum-compatible systems.

This solution would allow users to intelligently and securely schedule recurring payments by setting up a programmable payment instruction to automatically send funds from one self-custodial wallet account to another at recurring intervals without having to actively participate in each transaction.

The Vice President of Products and Innovation of Visa do Brazil, Fernando Amaral, affirms that the AA concept can bring payment experiences with familiar interfaces to users, but with all the security and practicality of the blockchain ecosystem. Visa will continue to explore these technologies and concepts to help bring the cryptocurrency ecosystem closer to its global network of customers and merchants.

Blockchain technology has become a reality in the world of cryptocurrencies due to the security and practicality it offers in transactions. However, its potential applications go beyond digital currencies.

K. Tovar

Source: Cointelegraph

(Reference image source: file)

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