All the ways AI will slash Wall Street jobs

Anyone who's visited the New York Stock Exchange lately knows technology has already taken a toll on Wall Street jobs. And the decimation is only going to continue as the artificial intelligence industry booms. By 2025, AI technologies will reduce employees in the capital markets worldwide by 230,000 people, according to a report from Opimas that came out last week. Financial institutions may see a 28% improvement in their cost-to-income ratios. Additionally, financial firms will spend more than $1.5 billion this year on AI-related technologies and $2.8 billion annually by 2021, not including their investments in AI startups, the Opimas report estimated.