Wall Street Fires Clerks: Major Banks Massively Deploy Agentic AI

Academics' fears about labor market transformation (reflected in today's Stanford manifesto) have already become a reality. On July 13, 2026, Reuters recorded that the largest Wall Street financial conglomerates (Morgan Stanley, UBS, BNY, JPMorgan, Citi, and Goldman Sachs) are aggressively deploying digital assistants and autonomous AI agents in their pipelines.

The productivity race in FinTech has moved from the testing phase to aggressive automation. Banks are integrating Agentic AI not only into wealth management but also into treasury operations and basic enterprise routines. Autonomous algorithms are taking over data collection, preparing analytical summaries, and routing documents—functions performed by armies of junior analysts for decades. Implementing strictly regulated "closed" AI models allows corporations to radically cut OPEX on payrolls, leaving humans with only the role of final controllers in the Human-in-the-Loop paradigm.

Source: Reuters / JPMorgan / Citi / UBS