Impact of Technological Development in the Banking System on Labor Market Dynamics

Abstract

In our contemporary world the rapid development of technology in the banking system has a significant impact on labor market dynamics, which is leading to a reshaping of job structures, skill requirements, and operational processes. This article focuses on the impact of technological developments on the labor market in the banking sector, the integration of automation, digitalization, and artificial intelligence (AI) learning. While technological developments have led to the emergence of new jobs, they have also reduced the need for traditional jobs. The article examines the positive and negative impacts of these changes, including unemployment, low skill levels, and the need for continuous education and training.