The European banking giant has made a decisive decision: it will use artificial intelligence to reduce costs.
The Italian trade unions of BNP Paribas have started negotiations with the bank’s management regarding the new strategic plan’s measures in Italy. The unions want the proposed changes to take into account the interests and protection of employees. The CEO’s goal is to achieve cost reductions, which he believes could result in a cost-to-revenue ratio of up to 50 percent through efficiency-enhancing measures.
The unions operating at BNP Paribas’s Italian subsidiary have begun negotiations with the bank’s management in order to ensure that the new strategic plan, to be presented in the coming months, takes into account the interests and protection of employees – said one union leader. The CEO’s goal is to achieve a cost-cutting ratio of up to 50 percent through efficiency-enhancing measures.
