Wells Fargo Expects More Headcount Reductions from AI
Dow Jones
6 hours ago
1239 ET - Wells Fargo still has a lot of opportunities to use AI within its business, Chief Financial Officer Mike Santomassimo says. When asked at the Barclays Global Financial Services Conference about headcount being down for several quarters, Santomassimo says there is more room to use AI to drive efficiency. Already, AI has been used to autonomously code and is present across company functions, including operations and call centers, Santomassimo says. "It'll bring headcount down more," he says. "Whether headcount will be down every quarter forever, probably not, but we still have a lot more to continue to drive it."
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.