Search Search Technology will cut 30% of banking jobs says former Citigroup CEO Vikram Pandit Artificial intelligence and robotics reduce the need for staff in roles such as back-office functions, Mr Pandit said Click to follow The Independent Online The banker isn't the first financial boss to make such a stark prediction about the future of the industry Reuters Vikram Pandit, who ran Citigroup during the financial crisis, has said developments in technology could cut the number of banking jobs by 30 per cent in the next five years.
 Artificial intelligence and robotics reduce the need for staff in roles such as back-office functions, Mr Pandit said on Wednesday in an interview with Bloomberg in Singapore.
 He’s now chief executive of Orogen Group, an investment firm that he co-founded last year.
 “Everything that happens with artificial intelligence, robotics and natural language — all of that is going to make processes easier,” said Mr Pandit, who was Citigroup’s chief executive from 2007 to 2012.
 “It’s going to change the back office.