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Story summary
- U.S. banks cut junior analyst classes by up to two-thirds and draw 62 % of AI talent from those cohorts.
- JPMorgan CEO Jamie Dimon and Citigroup CEO Jane Fraser warned that AI will eliminate jobs.
- Bank of America pledged 2,000 summer interns and 2,000 full-time hires this month, keeping headcount flat.
- McKinsey QuantumBlack partner Debasish Patnaik said banks will shrink graduate intakes but still rely on apprenticeship.
