European Banking Authority Warns Banks Against Hasty AI-Driven Workforce Reductions on May 21

According to Bloomberg, on May 21, the European Banking Authority (EBA) warned against rapid AI-driven workforce cuts in banking. EBA digital finance chief Ruta Merkeviciute stated the regulator has consulted with national authorities to ensure sufficient human oversight as banks increasingly rely on AI for business processes. She emphasized that credit assessment results should be verified by humans, and such oversight must span multiple workflow stages, not just the final step.
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