AI Won't Fire Bankers But Will Squeeze Their Bonuses, Column Argues

Generative AI won't drive Wall Street's investment bankers into mass layoffs but may shrink their lavish pay, above all their bonuses—argued a Bloomberg Opinion column (by Paul J. Davies) published on June 25, 2026. Departing from the conventional debate over whether AI will "cull" jobs, it advances the view that a decline in bankers' intellectual creativity will put downward pressure on their oversized pay packages.